Posted by Duke(CA) on March 02, 2004 at 06:14:18:
If someone is in foreclosure (NOD recorded) and you take there property subject 2 and you have complied with the Ca Equity Buyers Law requirements; Can a lender continue the foreclosure if they find out about the subject 2 on their loan? They already have a foreclosure in progress but would they have to start over with a new judgement? Another question; in this same senerio how could you reinstate the loan to the foreclosing lender if you are the one paying the back payments in your name? Wouldn’t they know the title was transfered and just accelerate the loan at that time?
So I guess my question really is are there other ways to do this without getting a new loan to cash out the owner in foreclosure?