Subject To Then L/O Or Short Sale Then L/O?
When somone is behind on their payments and they call you (or me) asking for solutions...
A friend brought this idea to my attention
why not short sale then L/O the home?
For an even Bigger check in the end?
Any comments? Reasons why not to bother with this idea?
JB
[addsig]
That can work, but you'd have to come up with the money to buy the property after you negotiated the short sale. If you took it over subject to, or did a L/O, you could do it for little or no money out of pocket.
If I could show that the property needed some repairs...say 4k to 5k...then I could take out a Hard Money loan, fix it up to A-1 shape, refiance it myself and do the L/O
I see what you are saying though, I'm just throwing ideas out seeing if everyone likes or dislikes...if I get enough likes....then I go try :-D
JB
[addsig]