Help!!!!! Solutions for owner in pre-foreclosure??

[E J]

Hi everyone, this woman approached me today and she is about 15,000 behind in taxes and also several months behind on payments. She has no auction date yet, but is looking for a solution where she could sell the house to an investor and rent it back from them (since she will have a tough time to qualify to rent elsewhere). She is also going through bankruptcy - so I'm not sure how that affects the whole situation as well. She owes roughly 354K on the mortgage, plus the back taxes and late fees. The house is worth roughly 400K market. Is this the type of situation where subject-to or lease options work? Is there a way for someone to catch her up on payments, put the house on the market, and split proceeds? Any advice would be GREAT!

[Justin S.]

Run Forest, Run!

You need to short the house somehow or move on. There is no deal here.