When you find preforclosure deals without equity, can you still buy them from the owners? Does the bank have to approve the deal much like a short sale? what about the 2nd and 3rd mortgage holders? how do you wipe them out?
Lastly, is there a course on this subject that anyone recommends?
Thanks :smile
Answers in BOLD
When you find preforclosure deals without equity, can you still buy them from the owners?
YES
Does the bank have to approve the deal much like a short sale?
IF YOU PAY 100% OF THE BALANCE TO THE LENDER THEN THERE IS NO APPROVAL. BUT IF YOU WANT TO DISCOUNT THE LENDER WILL HAVE TO APPROVE
what about the 2nd and 3rd mortgage holders?
PAY THEM OFF
how do you wipe them out?
IF A SHORT SALE YOU GET THEM TO TAKE LESS THAN WHAT IS OWED, IF THEY AGREE
Lastly, is there a course on this subject that anyone recommends?
SEVERAL GURUS FROM EBOOKS TO BOOTCAMPS. JUST GOOGLE THEM AND DO RESEARCH
Thanks