Possible Subject To Deal??

[Linda A Hawkins]

Good evening all. I am a local Atlanta investor and I have come across a possible Subject to deal. An elderly relative of mine is looking to enter a nursing home within the next 3 months. I have been told that the government may require that his house be sold prior to acceptance to a nursing home. Does anyone have experience with a Subject to with an elderly person that is about to enter a nursing home? Possible pitfalls?

His has a mortgage note on the property that is greater than $80,000, but less than $95,000. Comps for his area are around $140,000, and rents north of $1,100. Some work needs to be done to the house to get it rentable as in I am a buy and hold landlord. I wanted to see if this deal would work before we put it on the market in as in condition. Inventory in this price range is low at the present time, and I would not have to qualify for a loan. I am not interested in hard money loans, or mortgage bankers trying to attach to my other homes. Did I mention he is a hoarder as well? Please help.

Thank you,

Linda Hawkins CPS

CEO and 501C3 Founder

Haven Manor Inc.