** Foreclosure Overage Recovery **

[Chad Shultz]

Investment Info:

Single-family residence other investment.

** Foreclosure Overage Recovery ** - This one was a bit different.

What made you interested in investing in this type of deal?

I had met these people when they were going through Probate and wanted to sell the property. The big problem for them was they had a reverse mortgage on the property, which had a balance above what the property was worth to an investor. We tried to help them sell, but it would not be. About a year or more later, they went through a foreclosure by their HOA. An uneducated person bought the property at the HOA foreclosure for about $180k+. After paying off the HOA lien, there was $171k left w

How did you find this deal and how did you negotiate it?

I had developed a relationship with the property owners during an initial attempt at helping them with probate.

How did you finance this deal?

No money out of pocket and no money up front.