First foreclosures deal and time is ticking

[Juan Zavala]

This is my first foreclosure deal and I need some help with. What steps do I need to do to acquire the property subject to and/or any ideas?

This property will be foreclosed on 29th of this November, this month, if payment(s) are not given. Individual is 3 months behind in her mortgage at $450 a month.

Property was refinance and carries a $45,000 balance. Have not met with the individual personally so not sure what bank is carrying the note. On the County Appraisal Website shows to be valued at $53,000 and the home has been valued up to $67,000 a few years ago. I have not pulled any comps since I don't currently have access to it.

It was built in 2003 so my understanding is that its just filthy. I know I will find more repairs once I look at it.

It is up to date in taxes and I am going to offer to pay them as part of the down payment. At the same time it saves me money for the time being.

Any other advice on how to take over with minimal money down will be great.

This will be a buy and hold.