Posted by Darin on February 01, 2000 at 11:19:01:
If they are willing to foreclose and give up 60k in equity, that sounds really stupid.
For the sake of getting a deal, why not offer them something like $10k and take over the mgt.
Why dont they just sell the house at fmv and pay there debt off so they can recover.
It does sound typical of someone in foreclosure though.
Priorities all screwed up.
If they are going to be stupid, you can do nothing more than offer your services. So if that means you making a profit, why not.
Be sure to do a title search first, there could be other debt aginst the property.