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.

He said that most of the time it is never caught since there are so few restrictions with HML.Is there any validity to this, or has anyone heard of this?

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.