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Updated almost 11 years ago,
Possible deal in hand
There is a person I know that is living in a house that his mother owns and he is paying the mortgage with a friend but the mother does not live in the house. The mother is upside down on the loan. She owes 135k and according to her son it's only worth 80k. He's going to keep on paying the mortgage till he decides he wants to leave and the mother plans on just letting the house be foreclosed on whenever he does leave. Is there something here where I can capitalize on this situation and help the homeowner get out of this situation in the process? Would appreciate any feedback. Thank You