Ok People Any Suggestions Will Help!

To keep her in the house might not be a go since she can't make the payments now. L/O sounds good if you can find someone with a large enough down payment for a security to catch up on the back payments
A loan remod might take too long also.
I know you would like to help this person but the fact that she is behind now kind of throws that out the window.
This seems to be a great shot for you to do a L/O or outright sell it.
You will have some holding costs in this so plan accordingly.
Keep me posted, sounds interesting...Jan

Although, she did just get a job, so I know that's what was making her get behind.
Only bad thing was I wanted to buy the land behind our house and she owns that. I was planning on buying it once the deals we were working on right now were done and I had the cash.
I will have to see how things go on this one, I was thinking if the property is worth enough, I may be able to buy it. I will know more on Fri.
Thanks

How much is she behind and how much does she owe? what is the value of the home against what she owes and how much are simular properties going for in that area. Those are questions I would find the answers to before i do anything else.
good luck
Richie

She is behind almost $5,000. Now, our house we are living in is 72,000 tax value but market value is at least 100,000. The house next door that has 2 bedrooms sold for something like 116,000 or 120,000 in Oct, and both our houses are 1/2 acre lots - hers is much bigger, at least 5 acres but more I am sure. She said they have put over 100,000 into that property so far.

So what is the FMV of her house as it sits now. You have got a lot to consider here, it has my wheels turning.

Like Richie said, what does she owe?...Jan

Get the financing buy the property take over the extra land for yourself, then sell,L/O, or rent the other house. Its not that complicated try to set up the finance that's what you are in business for. There's an opportunity there take it.

and she now has a job and can afford the home; you can try a loan modification depending who the loan is with (some banks are not as receptive as others). She can also ask the bank for forbearance where they may be willing to place the missed payments at the end of her loan.

However, if none of those options seem to be workable, you can try to save it by doing a subject-to and bringing the payments current and then go out and L/O the property. There are other variations on this theme but you have to move quick as 5 months behind is the danger zone.

I have a BUNCH of solutions on my website (http://www.zionpropertiesandinvestments.com/AVOID-FORECLOSURE-HELP.html) that can all be used to help someone STAY in their home. Part of our jobs as investors is to help those who don't want to lose their homes as well! Hope she can use the information on my site! There are LOTS of options to pursue! Read it all. She may benefit especially from the HUD partial claim.

You guys are awesome.
Jan, as always I truly appreciate your taking the time to help me out
Trustpoint, I forgot about putting the past due payments at the end of your loan, we had to do that once.
James, I was thinking about that, depending on what she owes. Creatively I could do it, I would just need to get the past due if we can't get it to the back of the loan.
Tammy, your site is always full of great info, I will tell her to check it out.
Thanks guys

Go To Naca.com. It can take a while sometimes, but they'll work with her to stop the foreclosure sale, and restructure the loan. They work directly with the bank on her behalf. (no out of pocket fee)