Posted by Jim IL on January 27, 1999 at 16:50:42:
Just a thought.
What makes you think they can afford to make rent payments and will when they obviously have not been making the mortgage payments. Frankly, IF you can buy these homes, then you probably better of getting new tenants or buyers.
Also, they would need to give you option money. Will they be able to, and how much?
If they can, why haven’t the dtopped foreclosure themselves.
If the $150k is owed and a good deal on these, why not wait to let the bank repossess the homes, and then buy from them for what is owed?
Just my $.02