Seeing new ads on craigslist

General Real Estate Investing
1

The last 2 weeks I’ve seen some ads on craigslist in the real estate services section for people looking for help paying their mortgage.

Example:
Hello I need an investors help. I am less than 1 month late on my mortgage payment and the private landlord is threating eviction. I have just started 2 new jobs and can pay extra fees associated with any help that you may give. My mortgage amount that is behind is 501.00 I would like to pay the landlord 1002.00 as an advance and pay you each week an amount that would enable me to pay back what I owe you. (minimum $200.00 week).

What would an investor do with this? Kinda like a loan situation right, just making out on the interest?

Thanks,
Jon

2

I would not recommend giving them any sort of loan, as if they don’t pay the mortgage company - the first lienholder - I doubt they’ll pay you or me on time. =) However that is probably a great opportunity to give them an all-cash offer for their house, if they are desperate to get rid of it for a deep discount.

3

So they have owner financing from the landlord and he is trying to threaten them when they are less than 30 days past due?