Advice on ejectment.
I am looking at purchasing a foreclosure with the previous owner still living in the house. He says he is involved in a lawsuit with his mortgage company for fraud. The bank is asking 15K and the property is valued on our county website at 100K and comps in the area are between 80K and 120K.
My questions for everyone is, do you think it is worth the hassle of going through an ejectment to purchase this property and, if this person eventually wins a lawsuit against his mortgage company, is it possible that we could have to give up the house? Any advice would be appreciated.