Sell Back To Seller
I have a seller that is about $9,000 behind on her mortgage. Total loan with the $9,000 is $60,000. Also a $3,500 second. House is worth about $60,000. It needs work so is a good candidate for a short. No sale scheduled yet. The lady is adament about being able to buy the house back some day because she did some work on it herself. I told her its a long shot. She does not want to rent it back from me, or lease option or anything, just to have a chance to buy it back after she repairs her credit. She is thinking a year. I just dont think I have ever heard of anyone making this work. I think this would raise some eyebrows. Anyone see of a way of making this work? When I told her it likely wont, she did not want to meet anymore so I told her I would discuss it.
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