how can I do this?


There is a property in foreclosure, it is being foreclosed by the first mort. which is 98k the second is 55k but is not being foreclosed. he want to sell, but does not want to bring any money to the table. The comps are right at 200k. I had offered 135k but as you can see there is still a gap that needs to be bridged. can anyone offer some creative suggestions to bridge this gap, I’m not going to deviate from my formula and pay more than the numbers tell me to, I was just curious if anyone had suggestions. If it matters, the house goes to sale on the 30th of this month.

Thank you all!!

Howdy JS:

Contact the 2nd lien holder and offer them less than the loan balance (short sale). They may be willing to deal especially if they are not aware of the default on the 1st mortgage.