Sub2
Hey there,
Quick question - I'm running into more properties that our investment group can purchase, but the owners are way behind in their payments. Is there a way to get around catching up all of the payments to make the loan whole? Could the homeowner possibly do a modification first - then have us take the property sub2? Could we talk to the bank and explain the game plan or is that always a bad idea because it increases the possibility of them calling the note due? Also - if foreclosure activity has started, how can it be stopped? Thanks for the advice!!