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Re: Foreclosure question


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Posted by Why Chat (209.240.222.130) on July 11, 2002 at 16:57:42:

In Reply to: Re: Foreclosure question posted by Ladynred on July 11, 2002 at 14:49:37:


I have NEVER heard of a "deficiency judgment" on a real estate foreclosure. NO SUCH THING!!!
What this HEL impaired guy should do, is sit down with his 1st mortgage holder, and a VERY good lawyer, and see if he can work a deal to wipe out the 2nd & 3rd.
It can be done, but it won't be pretty! He will probably wind up having to have his 1st foreclose, buy it back at the sale, then renegotiate a new mortgage while lease optioning to him.


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