that fits my personality and style, not to mention I am great at self education and actually prefer it more generalized learning via college.

You would have the mortgage in the previous owners name and the title would be in a Land Trust.

All those junior lienors have a redemption period where they can buy the property from the previous winner to protect their interest.

Hello everyone, I'm an extreme novice and am here to gain as much information as possible.I'm two years out of college and own a residential painting company (I'm scared of a real job).

I am 20 years old and studying both economics and business management in my junior year of college.

I always thought that if you hired a title attorney and they did a title search and felt comfortable that there was no cloud on the title, that you could then convey the property with a Warranty Deed and be able to get title insurance on it to boot.In my situation, prior to the house being foreclosed on there were only 2 previous owners since the house was built and in both cases these owners had Warranty Deeds.I find it hard to believe that a property can have a Warranty Deed on it for almost 50 years but the minute it is foreclosed on there seems to be some question surrounding the chain of ownership.Can anyone add some insight on this?

At the court auction, if the property is sold for more than than the balance owed (liens, fees, fines, etc), the surplus "proceeds" ARE returned to the previous owner.

Through out that whole time I had plenty, if not most, people telling me that this would never work, I had to focus on college (which I was in also) or I needed to get a 'real job' with 'real experience'.Don't take it in.

If my previous business didn't fly I didn't stand to lose a pile of money.

Any of the jobs that sound good are usually very high up and well over my head.I have only been out of college for a little under 2 years.