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Updated about 10 years ago on . Most recent reply

Ronnie Neal's profile image
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Ronnie Neal
  • from Southfield, MI
  • Member since Dec 6, 2014
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Ronnie Neal's profile image
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Ronnie Neal
  • from Southfield, MI
  • Member since Dec 6, 2014
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Ronnie Neal
  • Southfield, MI
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Foreclosures

foreclosures

Ronnie Neal
  • Southfield, MI
Posted

How does an invester benifet off another persons foreclosure?

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Jerry W.'s profile image
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Jerry W.
  • Investor
  • from Thermopolis, Wyoming
  • Member since Sep 26, 2012
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Jerry W.
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  • from Thermopolis, Wyoming
  • Member since Sep 26, 2012
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Jerry W.
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  • Thermopolis, WY
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Jerry W.
  • Investor
  • Thermopolis, WY
ModeratorReplied

@Ronnie Neal  the normal method is to see if they have substantial equity, and if so buy the property from them for a little over what they owe.  Another strategy is to do a short sale with the bank and borrower.  That is getting the bank to agree to sell it to you for less than what is owed.  This very abbreviated but should get you going.

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