Peak Debt – My understanding, some properties don’t have PMI. People took out seconds for 20% to get around it.
About buying on court steps. No one addressed this, or at least I didn’t see it. Isn’t it true that you have to find out everything that is owed on the house, seconds, property taxes, HOA defaults, any liens, mechanic’s lien, e.g., judgements, IRS liens, etc. The court step may be just selling the first trust deed. You would be responsible for anything else that is owed. You assume their debt. Am I wrong on that?
