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Your grasp of knowledge

is very weak.

Burn the house down. Good one. Then someone from my company will be hired by the Insurance Company to investigate; to identify flash points of ignition; to review the financial condition of the property owner. When we are done, the Insurance Company might pay the bank what it is owed. They'll pay the property owner nothing. And then we'll wave good bye to the property owner as he heads to trial and Central Prison.

Have someone buy it at the courthouse steps for pennies on the dollar. The foreclosure process does not work that way. The bank presents an opening bid for all monies due including legal fees and acrued interest. In this climate, the bank typically places the only bid and becomes the owner. There's no such thing as "pennies on the dollar" at the courthouse steps. Nice try though; next time do some research.

Have Mom & Dad buy it. Ever hear of conspiracy to defraud? Maybe they can share the cell with Junior or Missy when they go to jail.

Pennies on the dollar can take a year to achieve; and that's a year after the bank takes ownership of the property. And before they put the property back on the market, they have any occupants of the property removed from the premises. Another of my companies buys distressed properties regularly; I've never had to remove the former owner from the property.

Again, you might want to do some research and know the facts before you post on a topic you clearly know little about.


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