foreclosure - Posted by Marcos Figueroa

Posted by Marcos Figueroa on September 27, 2003 at 18:39:27:

Correction. The house is a 3 bed 2 bath house

foreclosure - Posted by Marcos Figueroa

Posted by Marcos Figueroa on September 27, 2003 at 15:09:49:

Hi I am Marcos From Kissimmee Florida
I found a house in Kissimme going into foreclosure on Nov.4, 2003.
Here are the details of the property;

2 Bedrooms, 2 Baths, Kitchen, Dining Room, Living Room, and 2- Car Garage

This is a 1-level SFH. It’s 1,103 Sq. Ft.

The FMV is 105,000
The owner has a 83,000 first, 6,000 home equity loan and about 7,000 in penalties. She is really motivated. Just wants not to get foreclosed. What should I do?

Thank you.

Re: foreclosure - Posted by Steve

Posted by Steve on September 28, 2003 at 22:29:26:

check this out as a start

http://boss.streamos.com/wmedia/wsradio/cre/091103/segment1.asx

Re: foreclosure - Posted by Steve

Posted by Steve on September 28, 2003 at 22:19:50:

I dont know marcos, sounds a little skinny to me, im far from an expert here but, unless you can get that second loan to discount to 1k, find out if you can get those penalties to take payments on the arrears on top of the regular payments, then see what the buyout would be from the 1st lein (if any, doubt it). Theres ways to make money without alot of equity, you just need to sit and think of a solution that will make everyone happy, will that second lien drop to 1k? dont know, ask em…will they take payments on the arrears? dont know, ask em…if they will, can u find someone to L/O it to for more than your payments would be?, thats just stuff to begin thinking about, you can do just about whatever you and that seller say you can