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Updated over 4 years ago on . Most recent reply

Mitchell Lares's profile image
Mitchell Lares's profile image
Mitchell Lares
  • Rental Property Investor
  • from Boonton, NJ
  • Member since Sep 10, 2019
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14
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2
Votes
Mitchell Lares's profile image
Mitchell Lares's profile image
Mitchell Lares
  • Rental Property Investor
  • from Boonton, NJ
  • Member since Sep 10, 2019
Connect
Mitchell Lares
  • Rental Property Investor
  • Boonton, NJ
2
Votes |
14
Posts
Foreclosures

Purchasing a note and foreclosing on property

Mitchell Lares
  • Rental Property Investor
  • Boonton, NJ
Posted

I am in the process of purchasing a promissory note with a value of 80k for 60k. This note is attached to a 6 unit rental property. The person who owes the 80k has not paid the loan in 2 years. Can I foreclose on the person and attain the 6 unit rental in return? Any advice would be appreciated.

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