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| There is a house three doors down from mine. It was bought 10 years ago for 132000, the defunct owners owed around 280000 when they had to move out. Its been empty for three years or more. It is up for auction this Tuesday with a starting bid of 10000. The banks are racking up so much debt load that they are starting to dump these properties just to get them off the books. I guess the defunct owner will be responsible for the debt they created, but bankruptcy will wipe that away and the cycle will start over. When it all said and done, we all share the cost. | |
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Buying Property with lots of liens........
