buying below cost in NY - Posted by sharon-ny

Posted by jeff on July 12, 2002 at 17:39:59:

maybe you shoudl work on the judgement first. try getting it discounted form the holder. since you obviously have no intentions on paying it anyway, they may be excited to atleast get something for it. the best way to do this is to get a friend to call them pretending to be an investor and offer them wayyyyyyy below value for it. if they can obtain this judgement, pay them back for it and you now own a judgement againt yourself. have it dismissed and your clean as a whistle.

this will prevent any future liens from being placed on your property.

foreclosure is not the place to be if you have no clue how to invest. foreclosures are for the experienced usually. the no down payment is bad of course, but in the investment world it is not unheard of to purchase multiple properties with no cash out of pocket. since you are not an investor i dont beleive, you may not have the knowledge to take advantage of this. read all you can on this site and that will give you a good start on how to look for these deals, actually closing them is a different story all together.

buying below cost in NY - Posted by sharon-ny

Posted by sharon-ny on July 12, 2002 at 16:58:47:

i am desperate to buy my own home in NY but i have a judgement and no down payment. i would be able to pay the mortgage, but at the same time, the price of homes has gone up tremendously since last year. how can i find a bargain, where should i be looking? is there a way i can go to the banks to get a bargain, e.g. foreclosed home? i am in a very stable job.