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  1. #1
    Join Date
    Jan 2009
    Posts
    1

    Default 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

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: Buyer at Auction Renting Back

    Quote Quoting losingit
    View Post
    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.

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