pre foreclosure take over payments
Taking over pre-forclosure loans?
Is there any such thing as taking over mortgage payments? I’ve found this group, called “newline equity” I couldn’t find much about them on the web, however, they claim that they find you a house (someone in pre-forclosure or foreclosure) and you pay the mortgage and are on the title and somehow you and the original owners own the house, eventually. Anybody? Answers, please. Thanks.
Yes actually, investors have been doing this for about 20 years. The title is yours, the loan stays in the original persons name, and you just pay onto the loan each month, as the new owner of the property.
