Strategy for preforclosure

[Javier Rosales]

An offer to an NOD seller should be at their debt, less than their debt more than their debt? Any advice?

[Account Closed]

Originally posted by @Javier Rosales:

An offer to an NOD seller should be at their debt, less than their debt more than their debt? Any advice?

Someone who has received a NOD probably has about 6 months of unpaid mortgage payments, plus late fees, plus legal fees, perhaps a second mortgage, perhaps unpaid taxes, perhaps other liens and also needs money to move.

You should always get a title report, a payoff amount and a reinstatement amount. Then, and only then can you know a safe offer amount.