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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Tue, 09 Aug 2005 01:31:19 -0400
/ Author of the message: Jim |
Title of the message: |
Re: 2nd mortgage and bankruptcy
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Text of the message: |
I live on Long Island in NY and I was going to buy a foreclosure back in 1990. The house was great and in a nice area. It was being auctioned at $70,000 when houses like it were going for $200,000. I went to the county clerk and when I asked the lady for info for the lot, block, sec, she told me to stay away from it as soon as she heard the address. It turns out that if I bought the house for $70.000, I would also owe the two other mortgages that were taken on the house after the first. So, in essence, I would have owed nearly $300,000 for this house. Might be different in your state. Tony On 7 Aug 2005 21:54:26 -0700, "ml3p7@yippee.com" <ml3p7@yahoo.com> wrote: >mlrogers@cinci.rr.com wrote: >> Hi Dennis, >> I am a Realtor . . . this does >> not erase the lien from the home in preforeclosure phase. > >What if I buy it at the auction? Will I still be subject to the 2nd >mortgagee? > |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.