I would like to foreclose on the property myself.
2007-06-26 14:42:17 · 3 answers · asked by Dmitry M 1 in Business & Finance ➔ Investing
As you have already have been advised call up just about any bank and they will be delighted to talk to you. I don't think you understand though what is involved in foreclosing a mortage, at least in the state where I live. I takes about 6 months and sometimes longer. The attorney fees are not someting to sneeze at. And during that 6 months +, the tenents are trashing the house and not paying a dime. Good luck.
2007-06-26 15:07:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Go to bank like bank of america or city bank ask them to buy mortgages you can not make much money maybe 5-6 perceant a year.
2007-06-26 21:52:55 · answer #2 · answered by Gary 1 · 0⤊ 0⤋
I am sure there are many lenders out there who would sell you some of these mortgages at face value. However, doing so would be extremely stupid, since you would incur a financial loss with almost every one you purchased.
What ARE you thinking here ?
2007-06-26 21:48:51 · answer #3 · answered by acermill 7 · 0⤊ 0⤋