All Forum Posts by: James Sapia III

@Ron S.  Perhaps predatory was the wrong word to use in this circumstance, although I believe it is suitable.  I was not referring to any sort of predatory lending. The original post is referring to  an investor purchasing a  property in foreclosure , so I am not sure where lending would come into play.  Just because "predatory lending" is a term in the RE world, does not mean I am unable to use the term "predatory" in reference to another real estate act.   Of course selling the home isn't predatory... this post is about an investor buying the home that is already in foreclosure from the homeowner occupant . I know that once the foreclosure process has started  IN MARYLAND, if the home is owner occupied, contacting a homeowner to purchase the home and stop the foreclosure process is in fact illegal. Investors who have marketing techniques that say "stop the foreclosure" can be fined up to $5,000 and 3 years in jail.   This is all because of the  Protection of Homeowners in Foreclosure Act (PHIFA)  .Theres not really a debate to be had here.  Its just a broad law that is only enforced in a few states & makes purchasing a home from the homeowner already in foreclosure not legal. With that being said, it varies state to state & is still possible and legal in many states. 

https://alkonlaw.wordpress.com/2013/03/13/foreclosureprotection/

https://tpf.legal/protection-of-homeowners-in-foreclosure-act/

I’m not sure about other states but in Maryland if the foreclosure process has started that’s considered predatory.

not in Maryland without looking over your shoulder for the rest of your life