help to buy a house going on foreclosure
this house was a failed listing last year. The couple is divorced. both names on the mortgage. went to auction for foreclosure now. some equity for the owner probably still in property. existing/defaulting FHA loan at a low rate.
I wish to assume the FHA loan and keep the mortgage, clearing the arrears and paying something to the owners to motivate them for the deal
Is there anybody who provides that service to coordinate this transaction for a fee ?
Most Popular Reply
if it's already gone to auction, it might be too late. it's a complicated process to try to get the bank to back out of that. and as the other commenter said, all owners have to be totally on board with your plan. not only are most sellers not down for creative financing, but those being foreclosed on are typically even less cooperative (i realize that makes no sense, just how it is), and divorced couples even LESS. i think you're putting the cart before the horse here in looking for a TC. for future deals, you can find a TC in pace morby's fb group.