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Q: - "I found a home in foreclosure and can buy it cheap, what do I do now?"
A: - Not to be self-serving, but you need a lawyer. Buying a home out of a pending law suit is very complicated. Title to the property is subject to the mortgage that is being foreclosed on, any other mortgages, any other judgements that the homeowners have against them, court costs, and legal fees. If you're not careful, instead of buying a house you may be buying a law suit. Large banks hire large law firms to handle lots of foreclosures. Those firms often have too many cases and do not serve all of the interested parties with the suit. If that is the case, even if you buy the property at the courthouse sale, there is no assurance that the property is debt free. As a practical matter, the bank's attorney WILL NOT call you back. The bank's attorney will pay attention to these three things: (1) a Judge, (2) another lawyer that can cause him to be in front of a Judge, and (3) a title insurance agent with a check in her hand. Good luck.
The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience.