Do I Have An Opportunity For A Short Sale Here?
I'm a newbie, so please bear w/ me.
Owner is 5 months behind, needs 6K to bring the loan current.
First balance of 113k
Second balance of 8k
home is worth 160k
What next!!!!!!
Owner is willing to deed me the house subject to....
Remote chance to short w/second, zero with first.
I don't understand what your objective is.
If your objective is to buy and resell, could you not sell to someone else,once you have title?
Or if you qualify for a mortage, you could buy the house with a high LTV loan, and then resell.
I am not an expert on buying and selling with creative methods, but it does seem like there is an opportunity there for you.