Need quick advice w/foreclosure!

The guy is 3-4 payments behind. He just wants out to avoid the foreclosure! Around 20K in equity, maybe more. I faxed over a consent form with both of our sigs to the lender today. They said it would take 24hrs before they could talk to me about it.

It sounds like a really nice house…appraisal at around 300K needing no repairs. Pretty sure I’m first on the scene here. What would be some great ways to take control of this property from here??


Get the deed. If there is that much equity and he just wants out… those are magic words.

Let us know how this turns out…

Jared :beer:

Thanks for the reply!

What would be the best way to “get the deed”??

get a hold of the title company (do you have one?)

You should not have left unless you had him sign the contract for deed to you. If he’s that motivated, you’ve probably already lost it. What good is an authorization to release going to do you know?