Owned by Credit Union

[Frank M.]

A property I am looking at is owned by the CU. Not a short sale, it's REO.

Does anyone have any experience approaching a credit union and offering to take over the loan? Or for whatever reason, do they need to cash out at any price? In this case, if any negotiating were possible, I'd offer a check for 25% of the loan balance and ask for a short term note on balance, even 5 years would be fine.