How Can I Flip This Pre-foreclosure??
A friend, has a house about to go into foreclosure. She has a 2nd mortgage with balance of $70k, with monthly payments of $700, house is worth $60k. She is willing to sell it to me. My question is how can I make some $ from her situation? I don't actually want to buy the property, I want to assign the contract. Please advise!! Thanks.
How much on the first and is the house only worth 60k. If the first is closing you can get permission to contact 2nd and advise them that they will loose out and need to make a deal offer 10-15k for the 70 see what you get if so sign a contract and flip