Asked by Matt Reeves, Missoula, MT • Fri Jan 4, 2008
Hi. Here is the deal: A friend is in foreclosure. It will take 50K to reinstate the loan. If I find an investor who will front the 50K to bring the loan current but in exchange takes possesion of the title and does a lease back option to current owner. Is this legal? That way the home owner is on the mortgage but the investor has title BUT the title has a lien against it for the amount of the note. Is this legal?
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