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Updated almost 2 years ago,

Mike Schorah's profile image
Mike Schorah's profile image
Mike Schorah
  • Rental Property Investor
  • Member since Jul 7, 2021
Connect

User Stats

415
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187
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Mike Schorah's profile image
Mike Schorah's profile image
Mike Schorah
  • Rental Property Investor
  • Member since Jul 7, 2021
Connect
Mike Schorah
  • Rental Property Investor
187
Votes |
415
Posts
Foreclosures

Can a late mortgage be paid upon sale of a property?

Mike Schorah
  • Rental Property Investor
Posted

It’s in pre-foreclosure. The mortgage is 13 months late. If I purchase it, the seller would walk away with $10k-$15k. Could she use this $10k-$15k to pay back the bank for the late payments or would the bank need to be reimbursed immediately before going into contract?

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