I have a really good deal in the works. I am able to get a fully rehabbed home that is worth $330K
for $220K. The reason I have this opportunity is that I hold the right of redemption on the house for another 4 months.
Currently, there is a buyer for the property at $330K but we are about to file to redeem the property.
If the property sells to a new owner before we redeem it we have the option of taking back possession of the property or we can be reimbursed for the equity from the Foreclosure surety bond and the new owner will just keep the property.
I need short term financing for about 60 days.