Need a Creative Solution to this!! - Posted by Davros
Posted by Davros on February 10, 2002 at 18:13:35:
I would like some ideas on how to make this happen. We are currently living in a home that we would like to purchase. We have very poor credit, and very little money to put down on this home. The home is the Mother-In-Laws. The house appraises at around $105,000. The mother-in-law has owned the home since 1996; we have lived here 2 years. She needs out from under the home and needs $94,000 for it. That includes the second mortgage she has on it. I have found a lender that will do a mortgage for 80 percent of the value of the home. I still need to come up with the $11,000 that she needs. Any ideas how we can make this happen so it works for both parties??