OfflineI have a co-worker that is facing foreclosure in his home since he has not been able to make any payments in a few months. I recenty learned that he now has a time limit as to when he has to be out of the house. I am not sure how long he has left as I have not talked to him about it yet, but I plan to soon. I would like to help him out with this but would I have sufficient time to make a deal to buy his home to lock it up on contract and assign to another buyer if he has less that 30 days left in the house?
"But thou shalt remember the Lord thy God: for it is He that giveth thee power to get wealth" - Deuteronomy 8:18
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"You can't be king of the world if your're a slave to the grind!" - Skid Row, 1991
Yes and most definitely! I would contact the owner right away and get as much info as possible about the property. Maybe you could prevent him from going through the foreclosure and safe him from ruin his credit. He may not have a choice but sell you the property for what he owes. Good luck!
Lloyd
Thank you so much for your answer to my question. I am on it to see what I can do for him and to try and get a nice deal out of it. Thanks again!
"But thou shalt remember the Lord thy God: for it is He that giveth thee power to get wealth" - Deuteronomy 8:18
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"You can't be king of the world if your're a slave to the grind!" - Skid Row, 1991