Updated almost 7 years ago on . Most recent reply
Need Some Creative Options
I have a Homeowner desperate to get out of his house and I am trying to figure out if there is anything that can be done.
SCENARIO
1. Home faced foreclosure but owner got reinstated.
2. VA Home Loan
Mortgage balance is now more than originally bought for and is under market value slightly.
3. Owner can not afford new payment amount and just wants out. HIGHLY MOTIVATED AND WILL CONSIDER ALL OPTIONS.
4. $5000 in repairs needed but nothing major.
5. In a good area and rental market decent.
As an investor what options can be given to Homeowner and how can such a deal benefit an investor, if possible? He understands he may not gain a penny from this.
This is a new scenario for me so looking for guidance and options.