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Home > Archive > Real Estate Investing > September 2006 > FORECLOSURE and options? Can anything be done?
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FORECLOSURE and options? Can anything be done?
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| A single family house is in foreclosure. First mortgage is about
$350,000.00 the second is equity loan about $90,000.00. The market
value is about $510,000.
Owner wants out and agreed on selling for $444,000.00. Market has slow
down in our area.
Any advice?
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| realassets@gmail.com 2006-09-14, 1:25 pm |
| you can do a lease option on it form the seller. then lease option it
to someone else. get a 90 day no payments in your first option so you
can have time to sell it in the second lease option. and get a good
down payment in the second one, none in the first.
thats one option for you.
Jan wrote:
> A single family house is in foreclosure. First mortgage is about
> $350,000.00 the second is equity loan about $90,000.00. The market
> value is about $510,000.
> Owner wants out and agreed on selling for $444,000.00. Market has slow
> down in our area.
> Any advice?
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| SteelVest 2006-09-17, 9:25 pm |
| look elsewhers - this IS NOT a deal and probably is NOT even with the
second foreclose upon by the first lender
realassets@gmail.com wrote:[color=darkred]
> you can do a lease option on it form the seller. then lease option it
> to someone else. get a 90 day no payments in your first option so you
> can have time to sell it in the second lease option. and get a good
> down payment in the second one, none in the first.
> thats one option for you.
>
>
> Jan wrote:
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