If I buy a foreclosure and if the previous owner wins a lawsuit what will happen to my investment?
Experienced foreclosure investors may work in various stages, but the possibility of making a transaction with the house owner is no longer possible after the property is an REO. We deal with REO properties. Thus you need not bother about the previous owner here! Please visit: http://www.m3reo.com/
It won't go that way. It will belong to the person who has a legal papers on it. When it goes into foreclourse it belongs to the Bank. The BAnk then sells it and it's yours. If something happened for the previous owners then the Bank will settle with them and you are out of it. They CANNOT take it away from you.
Marin County IS a hat for every different head!
Foreclosure law is geolocal so you need to find out your state's code. It is also dynamic and may be changing in your area.
Here's a link to a cautionary page about foreclosure investment.
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