You are here:
Buying or Selling a Home/Buying House
Advertisement
Question
Can I buy a house if my current house is in foreclosure. I have been told by family I can, but I could have a lein put on it. If I do get a lein how do I get it off my new house?
Let's take this one step at a time, Karen. If your current house is in foreclosure, no doubt your credit has been shot by the fact that you have not been making your payments. If your credit is shot, you will not be able to qualify for a new loan on the new house. However, if you have the cash, you can indeed buy another house while you are in foreclosure if you pay ALL CASH for the new house. You need not worry about a lien being transferred from one house to another unless that lien is a personal judgment put on by some creditor. Liens, as loans to buy a property are ONLY attached to the house you bought.
If you buy another house (you would have to pay all cash), there should be no liens on it. You be well, Karen.
Dick Dennis
dixiedee13@aol.com
- Add to this Answer
- Ask a Question
| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | You have been so helpful in solving my problem. I have been struggling with this and you have eased my mind so much! Thank you and you take care. Karen | ||
Related Articles
- Cash For Keys - What is Cash For Keys - Foreclosure and Cash for Keys
- Top 10 Personal Finance Tips - Personal Finance in Your 20s and 30s
- Buying Houses for Cash - We Buy Houses for Cash - We Pay Cash for Houses
- Facing Foreclosure - Personal Finance in Your 20s and 30s
- Mystery House - Historic Ontario Victorian Home
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Dick Dennis
Expertise
With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.
Experience
Solving real estate problems for 37 years.
Organizations
National Association of Realtors
Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers
Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate
©2012 About.com, a part of The New York Times Company. All rights reserved.