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View Diary: Romney’s housing plan: 'Allow investors to buy up homes' by accelerating foreclosure process (150 comments)

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  •  There are acutally different kinds of forclosures (0+ / 0-)

    plus there is trying to buy a house out from under foreclosure. Look up non-judicial foreclosures for details.

    In this case, it seems my coworker's real estate agent did not know what they were doing.

    "All things are not equally true. It is time to face reality." -Al Gore

    by Geek of all trades on Tue Oct 18, 2011 at 04:32:41 PM PDT

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    •  I don't have to look it up; that's what (0+ / 0-)

      I went through! I would think, though, and of course IANAL, that if there is more than one lender on record, and therefore more than one lien, all parties would have to agree to the sale, whether it's a short, auction, or whatever.

      •  Only the parties that were selling their interest. (0+ / 0-)

        that was why the extra liens remained after the sale. It was not cleared as it would have been in a judicial auction.

        "All things are not equally true. It is time to face reality." -Al Gore

        by Geek of all trades on Tue Oct 18, 2011 at 05:17:37 PM PDT

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        •  "Not cleared" |= "fraudulent"? (0+ / 0-)

          I think we are agreeing here, no?

          •  No (0+ / 0-)

            this was the wrong kind of sale, and as far as I know, it was my co-worker and the real estate agent not knowing what they were doing (and the real estate agent was found to be negligent by the lawyers), not fraud on the sellers part. As I said, there are issues with buying non-judicial foreclosures.

            "All things are not equally true. It is time to face reality." -Al Gore

            by Geek of all trades on Wed Oct 19, 2011 at 09:36:44 AM PDT

            [ Parent ]

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