[PRE-Foreclosure ] QUESTION

[Account Closed]

If an owner in pre-foreclosure has a house almost paid off, lets say mortgage 100k

And he has paid 95k, he just has to pay 5k to pay off his mortgage But he is in foreclosure, so, you help him and you paid his back payments, do you give him some of his equity or you pocket the 95k in equity?

[Chris Seveney]

@Fili Aguirre

If he is smart he files bankruptcy.

When dealing with people in pre foreclosure make sure you understand state laws as in some states it is considered predatory and can be either a civil or criminal issue.