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Updated about 4 years ago on . Most recent reply
Flipper stopped making payment
Loan term was up. flipper says he's going to wholesale it short and that I should be happy to get something. Thoughts... Foreclose?
Most Popular Reply
Originally posted by @Bob Randolph:
Loan term was up. flipper says he's going to wholesale it short and that I should be happy to get something. Thoughts... Foreclose?
Do you have a lien on the title? If you don't, record one quickly. You are the lender, so you determine what happens next. Don't let some hack failed flipper tell you that you should be happy to take a loss. If there is a short sale, they owe you the difference. They can sell their car to pay you back.