whats should i do

i found a house where the lady wants out of the home she is 4 months behind on mortgage she just can’t afford the payment,
the house is worth 155,000 she owes 149,000
i have less than perfect credit
should I try to do seller financing and create a note to be purchased by a company so she can get the house paid off
or try a hml w 80 ltv then ask the seller to second then sell the note to note broker
try a non-conforming lender w 80 ltv and again ask for seeler to do a second then sell to a note borker
i thought of subject to but i don’y have money to bring mortgage current
whatshould i do?

I would like to know this answer because my initial thought is why bother?

Value = 155k
owed = 149
Net = 6k

The spread is so small that this is a loser any way you slice it. If not, I would love to know why so I can advance my learning.

While she might owe 149k, with being that late comes late fees, legal fees, etc. Odds are she owes more than 155k now.

I’d rather bet my money on the handicapped turtle in the annual trailer park pet derby.

I could be wrong though. Still learning all the ways to make cash through RE.

You have a skinny deal and you don’t have the cash to bring the mortgage current. Hard money, second mortgage, seller finance, etc won’t work, in my opinion. IF the owner will cooperate a lot to save her credit, you can probably deal with the mortgage company. Write a letter to the mortgage folks, signed by the owner, allowing you to talk to their mitigation loss department on her behalf. Offer to buy the house for 145k. If the mortgage company agrees, you own a house, the lady has her credit rating bruised but not smashed, and the mortgage company gets rid of a problem loan. If they don’t agree, everyone loses. Either way, you’ll learn a bit.
Good luck