It is not legal in all states.

Is it legal to do so?

The court can issue a 1099 (to the borrower) for the difference or they may send the borrower to a collections agency, or even garnish the borrower's wages.In regards to foreclosures, Trust Deeds are a written instrument legally conveying real property to a trustee (or a third party) used to secure a mortgage or promissory note.Trustee's SaleA sale conducted by a Trustee, in the case of foreclosures, this refers to the sale of the property in question.Notice of DefaultWritten notice sent by a lender notifying the borrower that he/she has not met his/her obligations under the loan contract, and the lender may take legal action to enforce said agreement.

Not sure if this is the right place to be posting this.I am looking for the legal procedures of purchasing and liquidating Commercial Foreclosures.

Sales are advertised in various places: the legal organ for each county and online on certain days during the month.

I need a help I found a house I want to buy its a legal single but set up like a two family...my first question is how hard is it to make it into a two family...Second they want me to take out a rehab loan on the property its bank owned is this good...I am a newbie and this is all foreign to me...thank you vjb

Now, to my question, there are alot of houses foreclosing, when I see the legal ads, I drive to the property and it is already abandoned.

The seller keeps legal title to the home until the loan is paid off.

If it's MLS listed, you could have been a buyers agent and side stepped any legal issues.

(((I don't accept such things....it's time to break custom......at least offer it to the client, give them a chance to say what they will do....in this neck of the country someone will.....and as far as legality tell me the legal way to do what i want don't tell me it is illegal))))) I look for solutions and am very optomistic....I don't accept failure it isn't an option.Anyone can make money in real estate......ANYONE new investors or old salts.........You know that all of life is unforgiving.I learned from the school of hard knocks.Mistakes, hmmm I've made a few ....is an understatement.JUST DO IT ..............is how we get over those fears.If you don't take the first step then you can never finish the journey because you will never start.L....abor Luck is never had by those who do nothing.U....nderC....orrectK....owlegeWhen I say JUST DO IT...........I truely mean thatIt must be followed up with NEVER GIVE UP NEVER SURRENDER....This business eats up long time investors too.70 percent of the millionaires in this country come from real estate investing.Your in the game like it or notat the age of 65 only 3 percent of the population will be financially independent.Your in the game like it or not ....will you be the 3% or the 97% that is dead broke or still working?