I have a owner that is behind on his mortgage and I presented him with the option to let me get him current but my name as to be on the deed. He agree to it. My question is what is the process of getting the deed in my name? If i sell the house will I receive all the profit from the deal? What is the process of getting this done.
You’d better have a very clear deal with the home owner. From over here, it sounds to me like you are going to catch up the mortgage and the current owner will still own the house.
You’d better believe that is what the homeowner is hearing, also. They hear what they want to hear, so have everything very clear and in writing. You are going to have problems getting him out because once he is no longer in foreclosure, he is going to dig in and not want to move.
I suggest that you simply have him sign the house over to you, subject to, and he walks away, house and payment free. Then you do what you want with the house.