forclosure
Date: Sun, 10/19/2008 - 07:46
In our wealthy town, people stop paying their mortgages for a while and continue to live in the house. When eviction gets closer, they make a couple of payments and the whole foreclosure process begins again. Have you heard of this? One neighbor lived practically mortgage free for 4 to 5 years by doing this and then sold the property for a profit when prices rose, paid off the entire loan and bought a larger house the next time, repeating the process. They made sure to pay local property taxes but that was it. Ever heard of this?
you end up paying a ton of fees so unless you luck out with the
you end up paying a ton of fees so unless you luck out with the property value going up, I can't really see how you could "make money" this way?
