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Foreclosure in Apache Junction : Real Estate Advice

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  • Home Buying31
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Activity 2
Fri Jul 28, 2017
Dianahn22 asked:
can the current buyer then purchase from the bank for the amount owed? can they buy from the bank for said owed amount before foreclosure/auction now?
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Thu Sep 11, 2008
Dallas Texas answered:
Sorry to hear all GREAT QUESTION. However in many instances 2nd lien holder is 2nd in lne over the 1st lien holder usually 2nd lien holders are SOL. You do have rights if the home is foreclosed, contact an attorney you will receive less than amount owed however 1st liens are usually satisfied. Selling the loan happen all the time. FYI THAT is why lending changed why loans 80/20 are thing of past 2nd lien were not getting paid to the lenders.
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