Posted by JD on January 11, 2001 at 09:24:13:
calling the bank is not the way to go. yes you are missing something. think about it.
Forcl. Vets re: Remption period & nego. - Posted by dewCO
Posted by dewCO on January 10, 2001 at 11:19:45:
I’m in a trust deed state with a redemption period after the foreclosure sale. If I get an owner to deed me a property with little or no equity because of a second, just before or after the sale, then I should be in a much easier place to neogitiate a deal with the 2nd (& third if it exists) after the sale, no? They will have been “wiped out” by the sale, so I can then nego. with them to call their loan paid in full with no recourse, for pennies on the dollar, and since I am now the owner can go back in and redeem and have a property with equity. Have I got this right? Am I missing anything?
It would seem to be an easier nego. position than trying to explain that the will be wiped out at a sale. As they already will have been wiped out and therefore more inclined to deal. Thanks a bunch, dew