My Dilemma

[Account Closed]

Ok so I have a situation and possibly an opportunity. Just need some advice and someone to kinda give me feedback and or direction on what I should do with this.... Ok so here we go.... I have a friend that has a house that I just found on Trulia. Well to my surprise it is well below market value and the original Principal Balance is $127,988...(being it is in pre-foreclosure) the POSTPONED est. opening bid for it is at $67,500. My question is of course I would like to call my friend and ask about his house (which I will probably still do) and maybe hash it out with him on a deal but that would kinda of be awkward being in pre-foreclosure phase and me asking him to buy his house right or not? Im just needing direction on how I should go about doing this and if I would be able to do anything with it. If anything I would like to wholesale it to a buyer or two but just wanting some advice or if anyone has come across a situation like this?

[Penny Clark]

@Mike Brown is the preforclosure information accurate? If it is, I can understand why it would be awkward bringing it up to your friend. Does your friend know what you do - that you solve problems by helping people like him get out of an unfortunate financial situation.  I was in a similar situation where a good friend of mine owned her house free and clear but had accumulated a lot of debt and was forced to move into another home she had put an option on that had expired. She was cash poor, had maxed out her credit cards and didn't know how she'd make payments on her new home. She ended up selling it almost 38 percent below asking price.  If she had been a stranger, I would have worked out an owner finance deal with enough of a downpayment to take care of her immediate debt and provide a monthly payment to help with her current bills. Needless to say, I didn't and regret it. Reach out to your friend. You can make a deal that can be a win-win for both of you.