OfflineHey folks, I have a question.... We sold a double-wide on 1 acre about 6 years ago. The couple got a bank loan, paid on it for a while and then split up. Now it is going into forclosure (for the second time in 2 years(it was saved by the owner the first time)). We have a lien on it for unpaid water bills from our community well and would like to own the property again to fix up as a rental. The owner isn't communicative and it is scheduled to hit the auction block in about 5 weeks. The mortgage company is a large, out of the area company and won't talk about "short sale" with us. We were told that, unless the property gets bid up high before the auction, we're out our lien money. Other than going to the auction, do we have any rights to get the property for any better price than at auction? How should we proceed?
Maybe you can get them to Quit Claim it over to you, you pay the past due and then refinance with another lender....just a thought if its something you really want
Anita
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"FAILURE IS NOT AN OPTION"
If you are really worried about your position then you need to go to the auction and protect it. (The other option, as you mentioned, is contact the mortgage holder before the auction and buy them out.)