Can you resell a property to the same homeowner?

[Account Closed]

A person in pre-foreclosure called me and he asked if he can keep the house after I make his back payments and I told him no.

But, then I thought of telling him we can do a leaae option so he can keep the property and he would just give me 2k option to purchase.

But, if I buy the property from him for 100k

and I resell it to him for 120k, How would he pay me 120 if his name is still on the mortgage?

[Josh Bakhshi]

I don't understand, if you buy the property for 100K, then the current mortgage is paid off.  If he is in foreclosure, what bank would lend him money to pay you 120K??  Plus foreclosure is a different animal than traditional sales, there has to be an arms length transaction.  But you can buy it for 100K (if you have the money or credit) and sell it to someone else for 120K.  I wouldn't