I got a seller who is 7 months in default and is backed up around $12,000. Im thinking about structuring a subject to deal. There is about 100k in equity. If i get someone in thier and starts taking over the payments , what happens to the amount owed how would that be worked out?
FYI...either MAKE up back payments or WALK AWAY....after 15yrs doing L-O's.......
just so i get a clear understanding. even if someone picks up and starts paying the mortgage the foreclosure process would still be active because of whats owed, correct?