is this property on lawndale drive 90065, is the listing price, the actual price this house is going for?

Asked by Jaclyn, 90065 Thu Feb 26, 2009

I am interested in this property and would like some things explained to me. if they default on their mortgage w/ 50,000 dollars left, could i take over the mortgage to purchase the foreclosure?

jaclyn haydamacha

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Mario Villag…, , Burbank, CA
Thu Feb 26, 2009
Jaclyn, This seems to have a notice of default filed and the balance is $50k. I don't see any current listings on Lawndale. Investors once approached homeowners in these types of situations and would take advantage of them by offering them some money to sign the house over and they would take over. The DRE has cracked down on this and now the sellers have many different options to back out of such deals. If the owner can't catch up they will probably be better off putting the home on the market and taking the proceeds before allowing someone to assume the loan.
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