Preforeclosure
I'm new to rei.- my 1st deal. Couple in financial trouble, and about to divorce. They are several mort. pmts behind,and about to go in foreclosure. How can I structure deal? Thx for any advice.
I'm new to rei.- my 1st deal. Couple in financial trouble, and about to divorce. They are several mort. pmts behind,and about to go in foreclosure. How can I structure deal? Thx for any advice.
the proper way to structure the deal depends upon the needs of your sellers, and their attitudes about the house, their credit etc.
Based on what you've said, I can't tell if this would be a property that you should be interested in or not. Is there any equity?
How much to bring everything current? Will all the owners sign the sale documents etc?
You need to do a little more homework on this one before we can help you.
Jeff
Can you supply some numbers on the house?
What type of mortgage is in arrears?
Are there other liens?
Some more details will help in making recommendations.
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