The owners have this week moved out of the property and are just giving it to me as a sub 2 deal WOW
But the sale is as i said on the 22 nd of this month
I can not get hold of any person at the mortgage company to speak with them on this matter
i need to have about two weeks to four weeks to get my funding in place to cover back payments
The owners are going to be doing a warranty deed to me this week and getting it filed with this on file will this slow the sale down or hold it off for a bit ?
The property has a balance of 270 K and it has a value of 400 K
And is in Oregon state any and all helps PLS it is going to take a bout 20 K to get it back on track
For this information but i do not think this can be done on a county level
As this is a mortgage not a tax thing and i do not think the county this home is in would do any hting like this any way
Have sent a letter to the mortgage servicing company this is who is doing the foreclouser on the mortgage
This letter is telling them the property is sold and that the owners need a short extending sale date for the new owners to be to get all there funding in place we will see if this gets done before the sale it was sent today from Washington state to TX Huston
HEY was just wantting to know is there any body on this site that may know of some one who would loan the funds to bring the loan current at 4 % for 4 to 6 months ?
And could have a note for this secured aganist the property but would need to be able to get the funds in hand by no later then the 18 th of this month
i’m sorry but i don’t understand your reply…it’s tough to read.
you mentioned there is a sale date this month. i was assuming you’re referring about the sheriff sale correct? if so, then my reply still stands. you should check with the sheriffs department about any postponements that are granted to the homeowner (if any).
i’m not sure what you mean by “tax thing”. i’m referring to the lender foreclosing on the home.
Ryanpal s on the right track. Did you know you can do this without the Mortgage Co. knowing about it, by using a land trust. You are looking at a property 75cents on the dollar. I perfer 60. You say it will take 20K to make the loan current, will that cover all the late penalties? Have you considered your carrying costs at all. One shouldn’t do a Sub2 without the proper training. I’m no expert, maybe one will reply. Herbster
i have a contact at the loan place and am watting to hear back as i was just given this contact late last night and ias the person /one of them who is with the short sale dept at the loan company
We are in hopes of getting the sale put off for about 4 weeks to get all the funds in place for putting the loan current
I have two people intrested in the property now so i think this will be a quick sale deal
As it is in a big vaction spot and i could be looking at a real nice pay check on this
Why not write up a contract for the home between you and the seller. Send it to the bank with a prequal letter and letter of authorization. Write it up for the amount needed to bring loan current. A bank would be willing to pospone the foreclosure because you have submitted an offer. Continue to call them until they confirm they have pulled it from the auction. Take the 30 they give you or the the contract date to either find the money to bring the loan current or sell to an end buyer.
At this point was able to get thesale set back to the first of the month
This was all they were willing to give me as to get all my paperwork in to them
Now i am haveing trouble getting the sellers to get all the paper work back to me
At this point make s me really wonder just how much of what they said in the past is true