How to wholesale a up side down mortgage? Help

[Alex Gambrill]

I have a neighbor that moved to Florida 9 years ago because he is in the military. He owns the house next to me in Baltimore County Md. He has been renting it out for about 9 years but recently decided to let it go to foreclosure because he is upside down on the loan and its needs a new roof and water proofing in the basement. How can I help him out the house without having a foreclosure on his record and still make a small profit. He bought the house during the period of the mortgage fraud in the early 2000’s. Is there any remedy if he was caught in the fraud mortgages? The area we live in recently had two homes bought and rehabbed and sold, it’s a good area. If any investors are interested Please lets Network as well.

[Ozzy Sirimsi]

Originally posted by @Alex Gambrill:

 someone reference me to do a short sale, what do you think about that?

We recently did a short sale whole process took 6.5 months. If  the bank is responsive, and   short sale attorney  knows what he is doing, it should not be that la year.

I think you should definitely try.

It is all about numbers, how much he owes, current condition, current market price etc...