Thanks for visiting our site! Sometimes, a borrower may intentionally stop paying the mortgage because the property might be underwater (in other words, the amount of the mortgage exceeds the value of the home) or because he’s tired of managing the property. Yes, you may get the house with no cash down but the money needed for the repairs may be unrealistic.
If the house was not bought in as-is condition, then the new homeowners would have to sue the mortgage company that the property was purchased from. The balance of mortgage foreclosure bids are due the third Monday of …