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Updated about 9 years ago,
Advice for this tricky deal
Hi BP! I just received a seller lead from my mail campaign. Basically the seller lives out of state and just wants to get rid of the property, but he owes a lot in back taxes. The seller is willing to let the property go for what is owed in taxes. I spoke with his realtor and it looks like he had two mortgages before filing bankruptcy. The mortgage co is not holding the seller liable for what was owed prior to the bankruptcy, so the seller has the title but mortgage co will not release the property. Would this property be assignable if I decide to pursue getting it under contract? It doesn't seem like it will be to me but I would like to hear some seasoned investors take on this. What would be the best way to approach this deal?