|
|
| *Home>>>Investment Advice |
Please i need your help, my house got sold at an auction, now what? |
ok, my house went to foreclosure (investment property), the bank bought it back at the sale. I guess they are trying to get some money out of it. The problem is the second mortgage company, they want their money, with everything i know about the mortgage industry, I do know that the 1st is always the one that comes first. As far as i know the 1st mortgage is going to list the home for sale so they don't loose out, and i know the state of maryland requires the 1st to notify anyone else that is listed on title before a court appointed sale. I'm not sure what to do, the collection agency is calling me asking me for money I don't have, they keep saying they are willing to make a deal. What are my rights, the property was in Maryland and I currently live in NJ. NJ has very strict Judgement laws, the last thing I need is a wage garnishment on what little money i make right now. Any advice would be great thanks, i may have to contact a lawyer. You need to find out if the state you are in is a recourse state or not. If it's not, the holder of the 2nd lien may have no legal way to collect anything from you. Sure it'll ruin your credit, but you may not actually have to pay them anything. duh. . . do you really think you need to contact a lawyer??? contact a lawyer right away... Contact your lawyer. And before you buy investment properties do your homework on the area the rents the capital growth building history and so on. So that this doesnt happen again. |
| Tags |
| Investment Firms Investment Company Investment Calculator Investment Bank Investment Advice Investment Account Invest Money Invest in Gold Invest Fund |
| Related information |
Okay 30 machines will not cost you 10k who ever is giving you that price is ripping you off. I currently only have 5 machines but they are doing great as a side biz (HOBBY basicly). You can... If you have an active HOA, they should be engaging the folks who are allowing their homes to fall into disrepair. Those homes will lower the value for everyone else in the subdivision. If you l... One of the worst mistakes a manager can do is blame staff for mistakes if the manager hasn't provided them with the proper training or guidance. I wouldn't be surprised if the manager ha... No need to ask questions. Getting a job at Goldman Sachs makes you a member of the royal family and just as rich. ...If your old lease is still renewable, then you should be okay, as long as the terms of the renewal makes economic sense to you. Contact a Real Estate Attorney immediately. He can best evaluate yo... YOUZA! Pick something and see it start to finish. Then go to the next project/plan and see that one finished. When you have too many things in the planning stages it can get overwhelming, j... Unless you have immaculate credit, it will be difficult to finance an investment property. The numbers that will be of interest to a mortgage holder will be your debt to income ratio, not what you... My quick answer is you should definitely buy a duplex vs. a single-family property, because having someone paying half your mortgage (or more) is a huge help! I highly recommend reading Property... |
Categories--Copyright/IP Policy--Contact Webmaster |