curston Posted September 5, 2008 Share Posted September 5, 2008 Someone told me that I could buy a property Quote Link to comment Share on other sites More sharing options...
20thStDad Posted September 5, 2008 Share Posted September 5, 2008 I know my parents did that...25 years ago, in Louisiana. I do not know if that is possible now. Quote Link to comment Share on other sites More sharing options...
Ross Posted September 5, 2008 Share Posted September 5, 2008 It depends on whether the loan is assumable or not. If the loan is due on sale, then you can't take over the payments. You won't go to jail, but you could have to pay a lawyer to clean up the mess. You probably won't be able to get title insurance until the old lien is cleared. Lots of things can go wrong that will end up costing you money. Quote Link to comment Share on other sites More sharing options...
blespy Posted September 6, 2008 Share Posted September 6, 2008 You aren Quote Link to comment Share on other sites More sharing options...
BryanS Posted September 6, 2008 Share Posted September 6, 2008 You aren't kidding. I see this kind of thing all the time and you gotta wonder how people live with themselves sometimes. But I've been an investor for 5 years now Quote Link to comment Share on other sites More sharing options...
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