Quick Deal Help
Hi! I have a situation that I need some advice on.
My landlord is looking for someone to buy one of her buildings and then buy it back from them. Her interest rate is too high but because of credit she cannot refinance for a lower rate. So she offered me the deal. But, my fico is 566, and I have child support on my report, which is being paid but still has a high balance. The fee her lawyer came up with is $8000 for the transfer and re-transfer of the building. The property is 200,000. I was just presented the deal this afternoon, so I do not have all the figures yet. Just want to know if anyone knows of a lender in NYC that could help me. And is this a good deal? And how should I present this to a lender (be honest or what)? please respond. 
There is not enough info to really supply you with any help.
If she is unable to get a refi loan, how is she going to buy it back from you?
Are you prepared to be a landlord if she decides NOT to buy it back?
Roger