We both have outstanding credit and have been looking at HUD and foreclosures.

The current debt outstanding on the house is 365K and is held by two different banks.

Hello everyoneMy name is Anthony and I live in the Tulsa, Oklahoma area with my new wife.I am new to Real Estate Investing and I have recently been listening to the Bigger Pockets Podcast for some outstanding educational tips in the Business.I am looking to start out with a "Flip" but eventually my wife and I would like to become Landlords.If anybody is in the Tulsa area and would like to meet up, I would love to talk Investing with someone.I do work a full-time job right now and I hope to continue doing so for a few more years.

Look for potential warning signs that the seller is in financial trouble, such as delinquent accounts or a large amount of outstanding debt.

A Sheriff sale is a public auction held by the city to sell foreclosed homes to satisfy the payment of an outstanding mortgage forclosure, tax lien or tax sale.

The mortgage is due and payable as long as it is outstanding as a debt.

Then, balanced upon on the outstanding balance, does the bank recomputed a 15 year amortization at the new rate?

Qualification is based on the front ration, housing expense and the back ratio housing with all other obligations outstanding with 6 months or more remaining to be paid. :)

A lot of outstanding HOA debt, and deferred maintenance can be real issues.In general, I went with SFRs, and still looked at the financials of the HOAs to make sure they weren't underwater.Anyway, feel free to hit me up for any more info or referrals.

In other words, are there any outstanding liens or encumbrances on the title that you will inherit along with the property?