I know nothing about non-conventional financing, but have a potential option here and would like to learn.

[Chris H.]

Alright, I'm the guy from this thread. I'm looking to get an investment snowball going- I've got a decent amount of cash but I'd like to get in to even more houses than I could buy with 20% down + fix up costs.

A younger friend of mine who recently moved when her parents did has told me that her dad is letting the old house go in to foreclosure and has started making payments. She also thinks he owes around what is a fairly small number, considering that this is a large house in a nice neighborhood, though it was a bit scuffed up last time I was over.

Might it be possible to work out some kind of financing deal for me to buy this at a great price while keeping him from getting a foreclosure on his record? I know he has terrible credit so it's likely I could refinance to a lower rate and then rent it out for a profit. How would it work? Please let me know any ideas I might use; I bow to your experience.

Thanks!