This is a topic titled Foreclosure on seller finance second lien made in the Mortgage Talk section, belongs to our Mortgage Chat category; I bought a property for $135,000 and then sold it for $179,000 with 12% seller financing. The buyer is in bankruptcy chapter 13 now (4 years after the ...
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| Members List | Search | Today's Posts | Mark Read |
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| Senior Member Registered: Apr 2008
Posts: 1,497
| I bought a property for $135,000 and then sold it for $179,000 with 12% seller financing. The buyer is in bankruptcy chapter 13 now (4 years after the sale) but they have not listed the secondary lien (seller finance) in the BK. I don’t want the 1st lender to foreclose on the property. But how do I go about satisfying the 1st lien and then foreclose on the second thereby regaining the title. The current property value is round $210,000. |
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