Posted by Matthew on August 02, 2007 at 08:18:48:
Without his authorization you got nothing.you might as well walk unless he talks and signs. that simple.
foreclosure deal 1st time need help - Posted by joe beatty
Posted by joe beatty on August 01, 2007 at 13:22:10:
Hello everyone.
Ok i have found a guy who i know is abandoning his house and walking away from his mortgage. I know he is about 3 payments behind now. Th only problem is when i tried to get info from him he wouldnt talk. Can i still negoiate with the bank. Whats steps do i need to take first where and how can i get the payoff amount etc. I would really apperciate anyones help with this matter. Thansk in advance. Joe beatty
Re: foreclosure deal 1st time need help - Posted by Michael Steele
Posted by Michael Steele on August 02, 2007 at 14:51:40:
Joe Beatty
The current owner is in a bad position but not working with a possible investor makes his situation even worse. His lender will need spacific things direclty from him in order to work out a short-sale. It it in your best interest not to spin your wheels in trying to go around him but working on him and drilling him to work with you. The two of you working together will make things a lot smoother when dealing with the lender (whom will not deal with you if he has not contacted them and authorized you to do so)
Doing preliminary work is ok but you will surely hit a road block to where you will need him.
Hope this helps
Mike Steele