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Updated over 5 years ago,

User Stats

5
Posts
2
Votes
Bruce Foster
  • Rental Property Investor
  • Spartanburg/Greenville, SC
2
Votes |
5
Posts

Structuring a owner finance deal

Bruce Foster
  • Rental Property Investor
  • Spartanburg/Greenville, SC
Posted

I need help figuring out how to structure a deal. So there is a lady who bought a house from an individual through owner financing the house cost $65,000 she put down 30000 as a down payment and terms of $650 a month for the next 7 years. Due to some unforeseen circumstances splitting up with her husband and being in the hospital she fell four months behind on her payments. She owes about $3,000 in back payments to the owner and has two years left on her contract totaling about $17,000 left to be paid the lady is very attached to the home and would like to stay in the house. How do I structure a deal where I can acquire the property from the lady while allowing her to remain in the house and satisfying the original owner who financed her?

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