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Updated over 16 years ago on . Most recent reply

Bill Axford's profile image
Bill Axford's profile image
Bill Axford
  • Real Estate Investor
  • from springville, UT
  • Member since Jul 8, 2008
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Bill Axford's profile image
Bill Axford's profile image
Bill Axford
  • Real Estate Investor
  • from springville, UT
  • Member since Jul 8, 2008
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Bill Axford
  • Real Estate Investor
  • springville, UT
0
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11
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Real Estate Deal Analysis & Advice

I possibly found a deal!

Bill Axford
  • Real Estate Investor
  • springville, UT
Posted

Im working on a lease option right now with a motivated seller.

There is problem though the house is worth 215k but, they have 2 loans the first one being 177k and the second one being 25k for a total of 202k.

These people are really motivated and said they would let me have the house for the first loan balance.There payment on the first mortgage is 1150 a month and the total between the two is 1300 monthly. Fair market rent is probably 1200 monthly.Is there anyway this could work without doing a Short Sale. If not is this deal worth trying to pursue.

Bill

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