" I was wondering what took them so long to do it. "
I think I know that answer too.
I don't remember the exact rate, but the lien was bought at a ridiculously low rate. A s most are nowadays, to my frustration as a bidder. The one i had in FL was accruing interest at 0.25%, so I didn't pay it until the last month before they could foreclose. I Knew the borrower would not pay it, but I didn't want to waste money paying it since it was such a low rate. The rate on the ranch was also very low. I remember looking at it a few years ago, trying to buy it if possible. So the lender decided to not pay it and use that money elsewhere, knowing they would have to pay it eventually, but only paying a small increase in value as the rate was so low.
Okay, I'm back out of this conversation and board. On to my other things. Good luck to you in your picks. Oh, and I agree ... "But lets not discuss the foreclosure as too many still believe in Billy." I gave up on that thought years ago.
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