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Family Feud with an Auction Deadline '“ Adventures in Probate/ Estate Purchases by: Lou Castillo One of our investor students told us of an interesting probate deal or 'adventure' they're working on now and while it's a good story, it also illustrates lots of the ins and out of probate or estate issues and purchases. The Seller (we'll call him Scott) co-owned this house with his mom, and he co-signed on the loan with mom. Mom has been deceased for 3 years now. Scott says his sister lives there and is not making the payments, so the mortgage is behind 6 months in payments, and he's ready to sell the house. He said Mom left no will for her estate, but there are 6 other siblings. If that's not enough of an investing adventure for you yet'”Scott then tells us that the bank is threatening foreclosure. They're not just threatening'¦.we discover that the house is scheduled to go to the courthouse steps in 3 weeks. Why would anyone even try to purchase a mess like this with a short timeframe? Well, Scott owes $'33
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