predicament
Member since 2008 · 9 posts · 0 votes
Here's the story as it pertains to a friend of mine.
He moved into a home, with a lease to own option.
He put a significant amount of money down on the home.
The current mortage holder, who does not live in the home, leases the home to my friend.
The current mortgage holder does not pay the mortgage on time.
The home is in foreclosure now, 30 days from the final "date" pf foreclosure, when the occupants are given 20-60 days to vacate the premise.
Some investors want to buy the home from my friend for 165K and sell it back for 220K.
Am I being naive in thinking that there might be a creative way to save my friends home and have all parties profit at the same time? (please go easy on a newb).