2006-11-06 19:29:41 · 3 answers · asked by jesus r 1 in Business & Finance ➔ Renting & Real Estate
look into it further. It could be that the property is so stripped down or trashed that it isn't worth the land it sits on and you will need to make a huge investment demolishing and rebuilding. The lender who forclosed on the property is just trying to minimize their losses at this point and won't put any effort into the property. But then if you happen to have a contractor, plumber and/or electrician in the family or you just see yourself as a potential next Ty Pennington, it's an ideal investment for you.
2006-11-06 20:47:25 · answer #1 · answered by Sandie 6 · 1⤊ 0⤋
Just because it lists that as a judgement (if it is correct but highly unlikely) doesn't mean that is what it will be sold for. That may be a second mortgage and you might get stuck with their first mortgage. Plus the judgement plus interest and fees is just a start bid.
There is no way someone would be losing there house for such a small amount. You should contact the bank's attorney for the correct information.
2006-11-07 15:46:03 · answer #2 · answered by strtat2 5 · 0⤊ 0⤋
um maybe it was a forclouser home!
hummmmmmmmm...
2006-11-07 03:32:23 · answer #3 · answered by asia c 1 · 0⤊ 2⤋