Updated about 7 years ago on . Most recent reply
Approaching homeowner in sensitive preforeclosure situation
Hello BP,
I am in uncharted waters as a newbie active investor. I own property, but have never jumped into the many different arenas of off market investing. I was recently presented with intel about a particular home in Northern New Jersey, in which the current homeowner is in default. The homeowner, inherited the property valued at $375k that only had $80k left on the mortgage. The homeowner had tried to workout an arrangement with the bank but fell behind on that agreement. Learning of the information, I though how can approach this situation in hopes of creating a possible win/win situation for myself as well as a homeowner that could potential lose the home all together. Suggestions are appreciated.
Omar Laidlow
Most Popular Reply
@Omar Laidlow knock on the door, call on the phone, or leave a card in their door. You can't predict how they are going to react. What you can do is contact them and ask.
One option is trying to contact them via a neighbor or other person that knows them.