Posted by Ronald * Starr(in No CA) on September 03, 2003 at 20:09:26:
Well, sure. If you can track down the owner, you could make some sort of deal. The fact that the owner(s) have/has moved out suggestions somebody abandoning the property. One of the best prospects for a good deal for you.
If there is some junior lien against the person or house that you could buy, you could probably reinstate the foreclosing loan and do a foreclosure on your lien. However, other bidders might show up at your sale, so there is no guarantee you will get the house. If you can buy a junior at a discount and other bidders show up at your foreclosure, you will be reinbursed the full face value of the lien you bought and the advances to make the first whole. Probably. It is good to check with an attorney about that if the junior is not a regular deed of trust.
Good InvestingRon Starr*****