Creative Financing / Creative Deal

Good day!



I found a homeowner who just received the first notice of foreclosure. She has over $150K equity in the home and is open to a creative deal. She is willing to allow me to assume her mortgage.



PROBLEM: I have another home I am still trying to sell. It would make my life and situation easier if I sold this other home, but I do not want to pass up this gem of a house.



Besides assuming the mortgage, what other creative deals are out there?



I thought about renting to own until I sell my house, but that is the same as assuming the mortgage because she probably will not want less than the mortgage amount.

Comments(1)

  • avenue_investments12th September, 2005

    The kitchen and master bathroom need to be updated ($20K to update).

    I plan to update and sell. She is not paying the mortgage currently and the loan is assumable.

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