How Do You Do A Deed In Lue!!!!
ther is this guy on my block who lives with his 85yr old www.mother.the home they live in is free and clear with fair market value of 350k.he is as we speak getting her to sign over title.he wants a loan for 150 to 200k i ran his credit and his scores are well below www.500.i think this guy has a drug problem and will stop at nothing until some one takes this home from him .i ran this past my hard money guy and he said that he had no problem giving him 100k with 20k coming to me as a finder fee .i dont want to feed this guy to the wolfs.so how can i put my self in the place of the hard money guy and take title with out realy taking the title from this guy and give him a shoot a paying me back before i put the hamer down :-? :-? if anyone can help me please do so quick im to see him tommorow and take him to my hard money guy help!!!!!
Offer to buy the house from the mother yourself. borrow the amount needed, and finance the property NOO. Sell to the son on a CFD/Wrap for a higher interest rate. (higher rate reflects the higher risk based on his credit report). If he fails to pay by the agreed upon terms of your contract, you will have to foreclose, but you will end up with the property.