How Would You Handle This Forclosure
I have just learned that some one that I know is in forclosure and the bank is set to auction off his property in about 6 weeks.
This is uncharted territory for me. Not familure with preforclosure ect.
He is a smart guy and I think he has allowed this to happen because his newely ex-wife wanted him to sell the place ( he has the kids)and move out, taking the kids with him.
Then forward 1/2 the proceedes to her and the boyfriend of many years that he reciently found out about.
Its a tough situation they really "got the sh** end of the stick." and the ex doesnt care.
I know there is equity and that I will need to find out how much for starters
How would you approach this with a win win for all.
What steps would I need to take.
Get the "permission slip" to speak to the lender and ask if I can assume?
See what it would cost me to have them
quit claim it to me and bring it current?
Because of the kids involved I am having a hard time with this but I know if nothing is done they will lose everything.
Thanks in advance
JohnNH
[ Edited by JohnNH on Date 03/13/2004 ]
Can you e-mail me some more information?
C-