Posted by IB (NJ) on July 05, 2007 at 13:30:44:
You tell them you want to help them - LOL!
Really you tell them that you are in the business of buying properties but first you look to see if there are options available (refinance, forebearance agreements with the lender, etc.) that allow them to keep the home if that’s something they want to do (some know they want to sell now and don’t want to explore those other options). Have contacts with reliable mortgage brokers for refinancing. Know how to negotiate a forebearance agreement. Just don’t paint yourself as strictly trying to help and out of nowhere you suddenly want to buy the house. That’s where you’ll run into trouble.