Kentucky Home Foreclosures KY
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Offers from strangers to do a short sale or straw
purchases of your home to stop a home foreclosure are often
fraud and con artist scams to steal your home. You must be
very careful about how these methods are used. A short
sale is when someone (normally a relative) offers to buy your
home for what would be obtained at auction. This is often
for much less than what is owed on your mortgage. This
will normally work if you only have a 1st mortgage on the
property. It leaves you owing the deficency but most
people simply file bankruptcy and avoid losing the home in a
foreclosure.
A straw purchaser can also be using a third
person to buy your home on the courthouse steps when the house
is sold. Again the house may be purchased for far
less than what is owed on the property.
People will often promise to purchase your
home and then lease or sell the home back to you.
This is often a con artist scam. The person will
often promise to lease or sell it back to your but instead will
resell the house to someone else or evict you as soon as the
foreclosure sale is over. If you use either of these methods to
try to save your home be very careful of the person you are
dealing with. If you are stuck in a foreclosure see us to
avoid foreclosure.
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