Posted by Lee on March 25, 1999 at 18:57:11:
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House in foreclosure, how to get leins released? - Posted by Lee
Posted by Lee on March 25, 1999 at 10:25:20:
ARV (after repaired value) $100,000 to $110,000. First mtg. balance is $65,000 owner is not married but is in federal prison 3 to 400 miles away. There are 6 leins on this property that total aprox.$22,000.
How do ya do this?
HOW do I convince the 6 lein holders to sell their leins to me for 5 to 10% of face value?
The Sherriff Sale is soon, any suggestions you could offer are welcome!
Re: House in foreclosure, how to get leins released? - Posted by Bud Branstetter
Posted by Bud Branstetter on March 25, 1999 at 17:58:14:
The approach that could be used is to try for the second lien. If you can discount that enough to pay for your troubles you may be able to catch up the first to protect your interests. You then foreclose yourself on that second. You still attack the other junior liens for deep discounts. Not knowing the foreclosure laws of the state you are in I don’t kown how difficult this will be.
Re: House in foreclosure, how to get leins released? - Posted by Lee
Posted by Lee on March 25, 1999 at 10:31:12:
I misspelled my e mail on my original post.
My correct e-mail is above, in this post.