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    hl381's Avatar
    hl381 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jul 8, 2009, 01:11 PM
    Buying A House Without A Mortgage
    One of my ex-landlords is having tough times paying his second house. The house had been paid up to date but he will not resist more. I can not get a mortgage right now due to tax debts but I have good income and he told me that If I can get an attorney I can get the property, pay directly to the bank the current mortgage and when I have a chance to get a mortgage then buy it. He say that he is not interested to get any money from the sale he just want to get rid of the property. Can I get a "deed contract" on this situation? How protected I am in a case like this if I pay the rent, taxes and other expenses on time and it takes me 2 or 3 years to buy the house?

    Thank you
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
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    #2

    Jul 17, 2009, 11:14 AM

    Like he said - you need an attorney for this. HE will ensure your protection in this deal.
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