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Updated over 7 years ago on . Most recent reply

James Allen's profile image
James Allen's profile image
James Allen
  • Investor
  • from Houston, TX
  • Member since Jul 9, 2017
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James Allen's profile image
James Allen's profile image
James Allen
  • Investor
  • from Houston, TX
  • Member since Jul 9, 2017
Connect
James Allen
  • Investor
  • Houston, TX
0
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Foreclosures

Helping a Seller in Pre-Foreclosure

James Allen
  • Investor
  • Houston, TX
Posted

What would be the best strategy for helping someone in pre-foreclosure? I have a property deal in which the sellers are a year behind on payments and owe the bank $25K to catch up payments. They also owe the HOA. There is some equity in the property but not much. Is it better to try to work out terms with the bank directly or go straight for a subject to purchase? is there any way for the bank to reduce that $25K owed?

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