Suggestions on how to structure this deal. Subject to

Real Estate Coach · FL · Member since 2018 · 46 posts · 10 votes

Suggestions on how to structure this deal.

Seller willing to-do subject 2

Foreclosure in 60 days

Current balance $320,000

Behind $60,000 to bring current

Sec Mtg $5,000

Arv $380,000

Seller has no income to-do a loan Mod to bring current

Any other Suggestions to work with the lender

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Lender · Dallas, TX · Member since 2018 · 110 posts · 32 votes
7y
Can you provide more info? Are you trying to purchase and assume the existing financing? Buying with a new loan? I am assuming the $320K current balance includes the $60K to bring current, correct?
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Mark Monroe
OP
Real Estate Coach · FL · Member since 2018 · 46 posts · 10 votes
7y
Looking at doing a Subject 2 (assume the existing financing) Looking at suggestions on the best way working with lender, beside a short sale.
correct $320K current balance includes the $60K to bring current,
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Lender · Dallas, TX · Member since 2018 · 110 posts · 32 votes
7y
Assuming lender is willing to work with you, you should be able to work out a modification/renewal that would get signed at closing by seller and lender along with the transfer document(s) that would be signed by you and lender.
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