Buyer at Auction Renting Back
My question involves a foreclosure in the State of: CA
I am going through ALL the fun of bankruptcy and foreclosure.
There is a relative who may be interested in bidding/buying the home at auction as a long-term investment - renting back to me.
Is this
a) blatantly illegal
b) something that will make the bankruptcy court go nuts
c) something that would look like some kind of scam
d) a really good idea
Re: Buyer at Auction Renting Back
Quote:
Quoting
losingit
My question involves a foreclosure in the State of: CA
I am going through ALL the fun of bankruptcy and foreclosure.
There is a relative who may be interested in bidding/buying the home at auction as a long-term investment - renting back to me.
Is this
a) blatantly illegal
b) something that will make the bankruptcy court go nuts
c) something that would look like some kind of scam
d) a really good idea
A) Not illegal at all
B) You are fine with this
C) Lets say it is your mom, no scam
D) Sure if you owe $450,000 and your (mom) can purchase it for $300,000 , It is a GREAT idea. I would go for it.