Sub 2- One Day Or Hours Before The Auction.....
If i can find a sub 2 just one day before the auction what can i do with so little time?work a forbearance agreement with lender in the owners behalf?Pay an attorney to call bank and work something out?Remember if i would have lots of cash i would maybe pay cash to get the property but it is even better to get it with no cash thats why we buy sub 2.I would like someones expirienced opinion..How can i do something fast to get a deal like this??
Are most banks wiling to accept a forebearance? and is it worth the owner filing a banc. and then pulling it back out to buy some more time.
If the seller is willing to file bankrupcy that great. Be advised though that there will be more fees to pay off mortgage after its all said and done.[ Edited by theREIkid on Date 03/10/2005 ]
hey therelkid,when you called the bank you told them you were getting the property or you told them that you were just helping the homeowner with this transaction?Usually what you tell them is that you are just someone helping the owner of property because they dont understand banks.Did you do a 3 way call?How exactly did you do it?Im in the proces of doing it too so i just want to be sure... thanx
I just had the seller autherise me to speak on his behalf and told them I was his friend.
Oh by the way they postponed the auction I feel alot better