Quick Deed? - Posted by Vince


#1

Posted by PBoone on October 29, 1998 at 21:42:16:

Wait, patience always prove to be our most valuable selling tool in these instances.
Pat


#2

Quick Deed? - Posted by Vince

Posted by Vince on October 29, 1998 at 21:14:27:

Guys, I have a friend who lost his job and has since found a significantly lower paying job. Well he can’t afford the house he’s presently living in (he’s 3 months behind on his house payments)I’m trying to convince him to let me take over the house. He is dead set against parting with it. I sense his desparation but the guy is STUBBORN! I need advice on the quickest and cheapest way to take over when he finally see’s the light.

It’s a 90k house he owes about 72k on it.


#3

Re: Quick Deed? - Posted by Bud Branstetter

Posted by Bud Branstetter on October 30, 1998 at 11:16:21:

Alex G. has a thread above about preforeclosure. In it he talks about what the seller wants. He does not want a vulture stealing all his equity. What you have to convince him of is that he needs to move because he can’t afford the place. Then help him L/O or some other form of creative solution. You can be in between so that you make some money while he doesn’t loose everything. Pigs get fat, hogs get slaughtered.


#4

Like a post above said… - Posted by Kevin(OK)

Posted by Kevin(OK) on October 30, 1998 at 10:35:13:

…help the person try to refinance the house. Then when that fails, and the person realizes they have exhausted all of their options, they will come to you because you tried to help. That’s when you offer to take over payments. If he is a friend and the deal supports it, give him a thousand or two to help him get into a rental. Good luck!!

Kevin(OK)