El Paso, TX · Member since 2020 · 34 posts · 4 votes
Looking for an advice
Case: A 20 years old young man lives with his two young sisters. The house is schedule for foreclosure in February. The house is "owner finance". His Dad is on jail and his mom deported. He is unemployed with COVID twice. No monthly payments for the last 12 months (maybe a good heart owner).
A limited power of attorney from both parents is all what he needs to try so save the house or sell the house?
Case: A 20 years old young man lives with his two young sisters. The house is schedule for foreclosure in February. The house is "owner finance". His Dad is on jail and his mom deported. He is unemployed with COVID twice. No monthly payments for the last 12 months (maybe a good heart owner).
A limited power of attorney from both parents is all what he needs to try so save the house or sell the house?
Any other feedback will be welcome
The POA won't help. You need a Borrower Authorization from one of the people on the loan. You can get a signature even if someone is in jail.
Does "The house is "owner finance". mean that the dad has an owner finance set up with an individual to buy the house or that the dad is willing to sell with owner financing?