Uniontown, OH · Member since 2014 · 13 posts · 4 votes
Found a home in my community that is going to auction in a week. I'm going to go to their home tomorrow to see if I can help them at all, or know someone who can. Recorder's site confirms process has been off and on for over a year. It appears as if they at least have 80% LTV when I see the terms and dates originated.
Any thoughts or strategies you would use? Im thinking (quick thoughts here), get the deed, subject to, reinstate, carpet/paint rehab (to dress it up), retail sale.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
11y
@Jared Emerick Welcome to BP! I can't help you, as I've never dealt with foreclosed properties. However; there's been many posts written on the subject, and I'm sure blog posts and podcasts. You might try doing a search and checking some of them out. If you find someone that knows the subject, feel free to @mention them, send a colleague request, etc.
Investor · Los Angeles, CA · Member since 2012 · 1k+ posts · 500 votes
11y
Reinstating the loan may be an option. Maybe the borrower would be willing to file a bankruptcy to postpone the foreclosure sale date. Also, I'd be trying to get authorized with the mortgage servicer on behalf of the borrower to see if I could get a request for postponement placed.