401k purchase of home about to be bank owned

[Shawn Ryan]

Hello, 

I’m not looking for cash. My dad and I are purchasing a house the bank is about to take. The current owner has to pay about 12-18 k in back payments and escrow payments. This delinquent payment has to be made this Friday. We have the cash coming from the 401k but are worried it might not make it in time. We have the house under contract and are worried. We don’t have access to any more cash right now and I have been denied a loan for the cash. I just started a business and have spent 77k in cash starting that. We came across the property be luck and want to capitalize on it. Any ideas? Anyone know of a way to borrow the cash with a 100% guarantee? It will be paid back at closing. Does anyone have knowledge of a place that does this? I’ve tried a hard money lender against to property as the numbers are beyond in my favor. Company was catalysts funding in Houston. They seem to take way to long. 
side question if/when I get the 12-18k cash should I pay the bank so the won’t take it? Then redo the contract to account for that on the purchase price? Is there something I should change in the contract to say I’m owed that money if she backs out after I catch her up at the bank? 

I’m willing to call anyone that knows about these matters. I’m also aware of the posting rules and believe I’ve followed them. I’m not asking for cash I’m asking for a source to obtain the funds.

Bank needs money this Friday the 25

Thank you,