OfflineOk so a caller came through my 800 number-by way of my bandit sign-but this caller has only a couple of thousand of equity and wants to stay in his home. He is facing foreclosure and just received the default notice so there is time. Is there any type of deal that can be structured that will allow him to stay in his home.
P. S. I am meeting with the owner this weekend to take a look at the home and he sounded like he might be open to trying to sell...
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Hi Yadabnns,
You know per-foreclosures or foreclosures are a tricky thing. If his default is not too much and you can pay it that would get him caught up and he can stay in his home as long as he can keep up the payment but in exchange for you getting him caught up he would have to deed the house over to you. Second option is to find him a person who wants to do a lease option and do a sandwich lease with him, have the leaser put down enough to pay off default and you make some fee upfront, but he would have to move out.
Hope this gets you started to thinking a little creatively. Good luck.
Respectfully,
Shah
Thanks Shah
That was a well put together post. I will be sure to keep that in mind when I go to check out his home. As far as the marketing goes my signs stand out because almost all, if not all say "we buy houses" and a phone number while mine read "behind on mortgage payments? Facing foreclosure" and my 800 number. Plus all of that is inside a home with attention colors: blue & white. Five calls this week so far...
This is the first week I've put signs out and I kept it simple with just 15 signs, but in the hottest areas, especially the most popular theater here because some people who go there either need our help or know someone who does. I will place 15 more this weekend in a neighboring city tomorrow. And versus picking them up I left them out because the people riding on the weekend aren't the same folks traveling during the week so I'm taking that chance. My message was six minutes, but I shortened it to two minutes. Hope this helps...