Other Creative Solutions to Stop a Pre-Foreclosure

[Autumn Allen]

Hey BP family! Burning question for experts, especially in Washington state (Auburn, Kent, Renton, Seattle, Bellevue, Kirkland, Tacoma) investors. 

I wanted to poll the experts on this one. I help a lot of folks out of foreclosure by the traditional cash deal that pays off everything, but I want to offer more solutions for those families where the equity just isnt there to make the all cash work out but the arrears arent bad either. 

Has anyone tried seller financing as a way to stop foreclosure? Give them enough of a down payment to stop the arrears and then pay them monthly for the house enough to cover their payments? They would still need to move to their next location but they are getting paid, getting their credit on the rise, and avoiding foreclosure all at the same time. And a possibly higher offer price because the pay amount is spread out over 5-10 years. Big benefits for them.

Thoughts?