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Updated over 8 years ago,

George Frye's profile image
George Frye's profile image
George Frye
  • Investor
  • from Albany, Georgia
  • Member since Sep 28, 2009
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158
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23
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George Frye's profile image
George Frye's profile image
George Frye
  • Investor
  • from Albany, Georgia
  • Member since Sep 28, 2009
Connect
George Frye
  • Investor
  • Albany, GA
23
Votes |
158
Posts
Tax Liens & Mortgage Notes

Foreclosure on a Note

George Frye
  • Investor
  • Albany, GA
Posted

So I have foreclosed on 3 notes so far, However I was wondering something. In a foreclosure usually the sale at foreclosure pays off the lien.  When you are the winning bidder there is no money exchanged and the note is not technically paid off.  I was told by another note investor that a new buyer can assume the payments on the foreclosed note. How is this possible?

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