Can anybody help me with structuring a potential deal?

[Christopher Gravillis]

Hello Readers

I have come across a potential deal & was wondering if anybody could help me with this please? The homeowner seems very keen to work with me & I would love to be able to offer him a solution that would suit us both.

For the purpose of protecting the homeowners identity I have named him Bob!!!

A Summary of Bobs Situation

• Bobs Father Past away in February

• Bob has been made executor of the estate

• Bob is not quite sure what he needs to do in this role

• He has been left a property which is in foreclosure 3 months behind on Mortgage payments

• Approximate property value $127,000

• Approximately $63,000 is owed on the property

• The property has approximately $63,000 dollars equity.

• Mortgage payments are approximately $600

• Has been unable to catch up on his mortgage payments because he had to give up work to look after his father when he was ill.

• He is now back in work and feels that if he hadn’t fallen so far behind he wouldn’t have a problem in affording the mortgage.

• Estate/inheritance taxes may not have been paid yet

• I think that he will owe approximately $13720 in inheritance tax.

• May need to produce a tax return for Estate taxes

• Has been left a nephew who is 14 years old

• Doesn’t have the money to pay for legal services up front and would need the costs to be charged to be taken from the estate

Bob would prefer to stay in the property but would be prepared to move out if absolutely necessary.

I’m thinking that I should present Bob with 2 offers.

One would be whereby I offer to purchase his equity & have him move out.

The other offer would be to purchase the property and rent it back to him with the option to buy it back in a couple of years. Could anybody give me any ideas of how I could structure a deal like this???? :D