Subject To Deal Little Time Newbie Needs Advice?
here is my delima home owner called and said her house is going to foreclosure april 16. she has already filed chap 13 and chap 7. she has a mortgage of 38,000 and the house is appraised at 90,000. she wants 7000; to move and she will deed me the property. she has not told me how many payments she is behind but it steal looks like a great deal. the home is in good condition and could be resold easly on lease purchase or rent to own I my self is looking to assign the deal to another investor I need to know how much money i could make on this deal and how to structure this deal and stop the foreclosure? 
Sorry to douse your fire there but if you don't know the amount of backpayments you really don't know if it's a go or not. You NEED to know that. You must also now worry about fraudulent conveyance. That could be resolved by having the property removed from bk protection. Be careful here, there are other factors at playin your "great deal".
The only way to stop the foreclosure is to make up the back payments. Everything else will just buy you time.
Ryan J. Schnabel
Hi, I'm a newbie to this forum but have some experience in deal making. Why not have the owner call the atty. while you are there and get the back payment amount. Also, be careful about other liens on the property; this will affect your offer and aid in determining if you want to go ahead.
If she hasn't made mortgage payments she probably hasn't paid ther property taxes either. You'll need to satisfy the back taxes. A tax lein takes precedence over everyone even the bank who lent the cash in the first place!