Article #6 from Foreclosure Articles
by David Whisnant Editor, Real Estate Investor, and Attorney

Foreclosure:

Foreclosures And Divorce


half of the down payment back. I can set that straight for you right now.

The foreclosure is coming, and if the property goes to foreclosure, everyone loses. I will give you $5,000 (the amount I paid on the actual foreclosure deal that I am discussing. I had $40,000 in profit on this deal hanging by a thread) to sign a deed at my lawyer’s office in the next 72 hours. I can’t do a cent more, but that is what I can do if you will go do what you already agreed to do in front of the judge. That will compensate you for your down payment plus interest. Otherwise, I bail on the whole thing and cut my losses.”

This works great in this type of situation when you are buying foreclosures. Don’t mention the money to the wife and make him promise not to either if you can. She wouldn’t be happy to know that there was an extra $5,000 floating around. If the profit is there, invest some of it back into the foreclosure deal. Keep the entire foreclosure process running like clockwork, and grease the skids with a little more money if you have to.

I would note that when you do these types of foreclosures / divorce deals, each party will try to paint the other as the bad guy. Just listen and these foreclosures will typically work out. You will be a therapist to both husband and wife.

I hope that this foreclosure article has helped, because I know that this is a situation that you will eventually face in this business when you start buying foreclosures. If you are interested in learning more foreclosure information, I invite you to try out my real estate and foreclosure course today.


Foreclosures |  Page 3

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