Tag Archives: lien holder

Processing Foreclosures Is Rapid In California, Slow In Florida

The slower the market is to work, the less efficient it is. Capital gets tied up and can’t be allocated most efficiently. Processing a foreclosure typically takes two years in Florida’s clogged court system. Now Florida lawmakers are looking at … Continue reading

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What Is A Foreclosure?

About one in 500 homes went into foreclosure in January! Latest numbers indicate the number of foreclosures has gone down, but this is more about paperwork and procedural problems at banks than about a rebound in the housing market. Dow … Continue reading

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Buying A Second Mortgage

From the book Foreclosure Myths: You can often buy a second mortgage directly from the lien holder for less than you can purchase it an auction (since it may be virtually worthless after the foreclosure sale). Remind the lien holder … Continue reading

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What Is A Second Mortgage?

The Washington Post has an excellent real estate glossary, including this: · A mortgage with a lien position subordinate to the first mortgage. That means if the borrower defaults and the house is foreclosed upon, the second-lien holder will be … Continue reading

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