Buying form an owner that has a private mortgage

[Colin Leid]

hi guys,

Got a lead that is motivated.  Her words are , "I just want this night mare over with"

She's an absentee owner

Currently on deed as owner (per county records)

However, I just learned from her that she financed the home with a privately held mortgage.

She has some taxes owed, outstanding fees with the association and may have a lien.

This will potentially be my first deal and I want some advice on how to approach this situation. 

Thanks in advance. 

Colin 

[Account Closed]

What's your plan, what's your exit?  

What's the property worth, what's the mortgage balance, how much is owed for taxes, what's the amount of the past due HOA fees?

Is the seller in default on her loan?  Is the property in foreclosure?  

Does the HOA have a lien and are they foreclosing?

BP helps those who help themselves by posting as much relevant info as possible.  :)