08.03.06
Another lesson learned on pre-foreclosure properties.
Real Estate, Foreclosure Woos
Two weeks ago, when I was at foreclosure #1, the owner told me that they had refinanced the house. I thought that was a done deal.
Today I remembered that the summary judgment in court on the property was supposed to be this week, so I called the plaintiff lawyer to get an update. It turns out that the owners didn’t pay off their debt yet, so there will indeed be a foreclosure on the property. I am in luck! In another week, I should find out the foreclosure auction date and in the mean time, I’ll have to figure out how much repair work the house needs, but from the comps in the area, I have a lot of room for error on this one, so it’s pretty much a go.
Exciting times ahead…
