Posted by Randy on October 11, 2003 at 11:05:44:
Has the will been probated? The deceased owner may have left it in the will but has ownership transfer taken place? It doesn?t look like it?s worth messing with - $73k liens PLUS back taxes and 2-3 months back payments on a $79k property.
If the estate has been probated and the ?caretaker? now owns the property you could make an offer ?Subject To? negotiating a reduced settlement with the 2nd lien holder (possible by informing them the original owner is deceased and the 1st is foreclosing). Then get an 85% purchase money 1st and pay off the foreclosing 1st or catch up the back payments and taxes and take it over subject to the existing 1st.