Updated over 9 years ago on . Most recent reply
Pre-foreclosure discussion steps with owner
My Friends land lord is facing foreclosure. (My friend has 60days to vacate)
I feel like this fell into my lap. I would like to see if I can help the landlord. What are the steps to take to do so?
1.Call and talk to landlord...figure out the problem.
What then?
Most Popular Reply
I think you are asking an open ended question on a pretty big topic.
What does the owner want to do? Is there any equity? Why is the owner behind on payments? Do you want to purchase this property or just help a guy out?
Keep in mind that pre-foreclosure laws are state specific, so there aren't universal answers.
As a non-licensed re agent, non-attorney, non-licensed mortgage specialist, your best option is to purchase the property and make the loan whole. This can be done with a conventional purchase or a loan reinstatement and taking over payments.
More info, please. And maybe we can help.