Posted by Tom PA on August 20, 2003 at 10:48:26:
I personally would stay completely away from #1.
#2 is a different story. You obviously have some cash to pay the arrears. Talk to the ex directly. She may very well give you the deed for a few hundred bucks. It’s amazing what cash will do sometimes. Of course you may have to fork over cash to the guy if you do it for the girl.
Personally, I don’t know if I would go the cash route and probably would not pay the arrears. I would like to see more equity before handing over my money. Get me to about 70% and then it has my attention. This one looks to be about 80%. However, if the rents in the area could create a decent cashflow on an L/O then that is a different story. It all depends…
…on what you have and what you want out of the deal.