Re: Note purchase questions

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Posted by John Behle on February 01, 2004 at 14:03:54:

In Reply to: Note purchase questions posted by Joe Kaiser on January 31, 2004 at 20:43:53:

Also, you wouldn't need to begin anew on the foreclosure if you bought the first. Buy it, push it through foreclosure or hold it over the owner's head.

Pay off the first and you've solved the owner's problem, bought them time (like for a bankruptcy), and taken away their motivation. It might make sense to pay them to walk away too. The chance of a bankruptcy is probably large if there is 300k+ in equity.

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