Newbie Sub-to
I have been reading the forums and I have a question regarding a current situation. A homeowner in foreclosure had several deaths in his family this past year causing him to default in his 2nd mortgage. 1st is current. His first mortgage is for 109k and current, his second has him in foreclosure and is selling the property in a month. I have tried to work out a forbearance but they will not accept any reapyment plan. His home was appraised for 192k. His total payoff is around 140k. He wants to get out of foreclosure and then sell the property. I have access to pay off his arrears and bring him out of foreclosure. Can I work out a subject to then sell or refi home?
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