Foreclosure Denial -

[Kyle Doney]

I have a guy under contract who has tons of liens and judgements against his property. We are supposed to close in 2 days and we just finally have them all (waiting on interest amt for one). They had a nice profit coming until this and now we are coming out of pocket a few grand to close and make this happen. Problem is, we're 2 days away and they think they can get more and want to try to get more now that they realize they can't get cash. Foreclosure will take place in June and really we are helping them out big time as it is. If they try to jump out, there's not a whole lot we can do. They obviously don't care about the repercussions. There's no sense to be talked into them. Last option is come more out of our profit to just get it to the finish line and make them happy. Any other suggestions?

[Account Closed]

Does the deal still even make sense? After the foreclosure sale all of those liens get wiped out in most states and you can buy it REO for much cheaper, less hassle. Explain that to the seller. Remember, this isn't your brother you are buying from. (or is it ? ;-) It's a business.