Friend in foreclosure. Need advice!
I noticed a foreclosure notice of an old family friend. I’d like to help them without taking their house. The have 400k of equity but can’t pay their bills. The buyout is 100k form the mortgage servicer and auction dates next week.. I could buy the property but I don’t want it. I’d like to keep their name on the property and have them make payments over the next 5-6 years and have my interest secured by the property. Any advice would be appreciated on how to navigate this.