owner financing

6 Replies

have a motivated seller willing to owner finance

problem is she is waiting for probate to go thru and she stated

that she got a letter of default from her lender

lender says they will not wait for probate wants family to keep making

payments

she owes 23k on it arv around 100k

how can I tie this property to stop fore closure

willing to pay off mortgage as down payment

You can cash the bank out before it goes to foreclosure.

Joe Gore

how much are they backup up how many months?

@Joe Gore

can I cash out the bank if it is still on probate

Juan - once you take the pressure off of her by curing the foreclosure, she may not be so motivated.

You could step into her shoes and have her assign her inheritance over to you. Of course, if you do this there may be unknown creditor claims that you might get stuck with.

@Rick H.

something to think about she was pretty motivated this am when she called

I send her a letter mon so she replied quickly she has her own house so I need a way to tie up this house

tks for the advice she lives out of town will be meeting in 2weeks

Im not much of a gambler, but I'd wager her emotional state of mind will be completely different in two (2) weeks time!

Figure out how you're going to work the deal, draft your documents, and execute. You can get a mobile doc signing service. Don't fiddle around.

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