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Updated over 17 years ago on . Most recent reply

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Estate forclosures on Medicaid, & dead owners

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Posted

I've recently heard that this area is lucrative, & for that reason, those that understand this side of the business do not want to discuss it.

Does anyone that understands the "ins & outs" of this topic wish to shed some light on how it's most lucrativly done?

Here's a couple examples for those who don't understand what I'm referring to:

1. A medicaid recipient is placed in a nursing home. Thier family wants to sell the property. The proceeds of which go to the government, so the family doesn't care how much the buyer buys the house for.

2. A parent dies, and the property has to be liquidated for a number of reasons. Many times, its the same situation, ie family doesnt care how much it sells for.

How do you get the inside track of notification, to get such properties?
Keep in mind I'm in AL (sometimes termed a non legal state -where there's no legal court proceeding prior to foreclosure. Usually have no more than 1 month, many times just 2 weeks from the lawyer listing the foreclosure in the legal paper, the paper can take a week to get to you, you now have 1 week to look through the paper, contact the owners, do your due dilligence, and make a deal before the house is auctioned.)

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