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Foreclosure (Law)

mrare68
2005-09-14 17:00

I need to find out what the procedure is for this scenario: House has a first and a second. The first forecloses and the owner dies during the redemption period. Second pays off first and want to sell to me but is told that they have to foreclose again which gives the person/persons 6 more months of free living which would pretty much kill the deal for me. Not sure if a squatter or family member lives there. Can anyone out there tell me if this is correct. The second and I thought we could just evict them and continue the sale.


edmeyer
2005-09-14 17:29

If you don't own the property, you cannot evict. If the first has already foreclosed then there is no second since it has been wiped out. If the second note holder paid off the first before the first's foreclosure sale, then the second note holder is now a first note holder. Still, the note holder is not an owner either and also cannot evict. The property belongs to the heirs of the deceased owner or is owned by the estate of the deceased owner. The note holder may be able to initiate foreclosure action, but I would run this one by an attorney to see if the death of the owner in any way stays the foreclosure proceedings.


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this there deceased sure correct just owned wiped still scenario thought then cannot first paid foreclosure owner holder personpersons have attorney family sale more forecloses told proceedings procedure been they deal them living during already saleif pretty kill property gives able would find death anyone heirs period need also dont what pays note tell foreclosed action sell second squatter dies could house continue free firsts much evict want initiate either member again since lives which belongs before redemption estate months stays foreclose