Family emergency-Sheriff Sale

[Nyashia LaFate]

Please help BP family:

My grandmother suffers from Dementia(no power of attorney) and she currently has gotten behind on her water bill and other city services.

The bank will not refinance (mortgage not assumable)and her home will be going up for Sheriff sale next month.

We want to see if I can purchase her home and use it as a rental property.

Could she request a Short sale?

Can we pay the city the 12,500 and work out an agreement with my grandmother?

Any ideas. Any insight would be greatly appreciated.

Here are the details on the House:

Mortgage remaining $28,000(no escrow)

ARV-$100,000

Actual repairs cost $40,000(mold and new roof needed)

City Sheriff Sale $12,500 (water bill, taxes (due to no escrow)and fines)

Currently listed as abandoned property by the city.

Average rent in the area: $1500

Let me know if you require any additional details.