Updated over 6 years ago on . Most recent reply
Purchasing pre-foreclosure from a relative
I have a relative who is going through foreclosure. They are content with letting it go. Are there any options I have before the Sheriff's sale to purchase the property? I know short sale is out of the question (or is it?) since we are related.
They currently owe 140k on the loan, with a 10k lien in addition. It needs about 40,000 put into it and is worth 200-210k. The auction won't be until September 2019 in which I will have at a minimum 20k to put towards conventional financing.
Any sort of insight that is given is greatly appreciated.