REI Wealth Magazine Featuring Paul Finck | Page 60
If there is enough equity in the property, either the property will receive a high enough bid
to pay off all of the liens, or the second [the foreclosing party in our example] should be
able to flip the property fairly quickly or decide to keep the property, as they would be the
new owner. If they choose not sell the property, they should very quickly discuss with the
first some sort of agreement to either refinance [a new loan to the second who is now the
owner] or make payments for a period that will allow time for a new lender. The above
information is for discussion purposes only and, as always, one is advised to discuss real
estate related issues with a qualified real estate attorney prior to any legal action.
EDWARD BROWN
Edward Brown currently hosts two radio shows, The Best of Investing
and Sports Econ 101. He is also in the Investor Relations department for
Pacific Private Money, a private real estate lending company. Edward has
published many articles in various financial magazines as well as been an
expert on CNN, in addition to appearing as an expert witness and
consultant in cases involving investments and analysis of financial
statements and tax returns
Edward Brown, Host
The Best of Investing on KDOW AM1220 on Saturdays at noon
21 Pepper Way
San Rafael, CA 94901
4152990330
[email protected]
60