WOULD YOU DO THIS DEAL???

8 Replies

Owner want out of mortgage

ARV $391K Loan is 335K

Pays $2700 a month on Loan

Taxes is 4100.00 still due this year

Husband Divorced wife and was granted home in divorce decree but it states she still the owner on the county records pulled online, and he have no contact to reach her to sign an quitclaim will the divorce decree work at closing for you

Owners want no money but to not pay mortgage

Do your homework, and try not to get in the middle of things. You'll be wasting a lot of your time on what appears to be a good situation for you.

Best to you!

TM

Are you looking to assume the loan or do a subject to it straight out buy it. $2700 for $335k appears to be a high interest rate if taxes are not included in that number

Thanks @Mark Brogan

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Hi @Rae Remer

What is market rent?

Talk to a divorce attorney after seeing the divorce decree.

It costs 10% to sell or $39K to sell.

$391K - $335K loan = $64K - $39K =  $25K

So buy it sub2 and resell it fast

I hate that $2700 pmt...

This area don't really have renters on rentametor.com you know that site to determin it,  so I haven't been able to determine it yet.  The house are all bought  but down the street is 2900, I hope to rent it out until I find a buyer.  

spend the 12 dollars and use rentrange to your rent estimate

@Chris Seveney I learned that the taxes and insurance is wrap in the monthly payments

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