One lien, not over encumbered. Do you think I should offer him $20K to walk and I pay all the back taxes and payments and have them signe it over to me. Would that work.
- They don’t go into foreclosure
- They save their credit and can rent again
- They have cold hard cash in their hand
If not,they forclose an have bad credit.
Any tips on approaching these highly emotionahlly charged people.
Why are you giving him so much money? I haven’t given anyone more then 3g to get out of their house. If they want 40g, give them 3g. If they want 20g give them 3g. Tell them that you can’t give them so much cause u got so much back payments and fees to make up
wow, that’s cold…So I’m pretty new in the Real Estate world especially in Investing…How does this work. There are thousands of NODs out there, why wouldn’t someone just try to sell it verses only taking 3Gs?
Not sure where your 20K figure came from, but the bottom line is the numbers need to work. I would agree with nick, don’t give more than you have to.
Remember you are providing a service by stopping foreclosure. If they can list it and get more of their equity, they should do that.