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Message
re: how to pick up a foreclosure
Posted on 8/2/12 at 3:01 pm to I Love Bama
Posted on 8/2/12 at 3:01 pm to I Love Bama
quote:
The best way? Buy from the current homeowner. Say the house is worth 100k. He owes 50k. Offer him 55k. He walks away with 5k I'n his pocket and saves his credit. Win win.
This is obviously dumbed down but you get the drift.
wait why would someone sell their house for 50% of the market price?
1
Posted on 8/2/12 at 3:09 pm to C
quote:
wait why would someone sell their house for 50% of the market price?
Bc they can't make payments/behind on mortgage = foreclosure/going to lose the house
Better to be with no house and $5k than no house and $0k
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