Advice needed on analyzing a foreclose deal in helping a friend out of bad credit.

[Randy Fung]

Dear BP,

I am at novice investor. I would need some advices on this case.

I need some advices on analyzing whether I can help a friend out of bad credit for foreclosing a home in Albuquerque, new Mexico.

She has defaulted payments for couple years (1999 days). Here is the #

Original loan: $132,000.

Original rate: 7.5% adjustable cap at 13 %.

Monthly payment: $925

Amount owned stsince default: $80,000

Current Loan + default amount = $189,000

Current status; in Foreclose, Bank said we can send in offer for short sale.

Current Zillow est. property value: $140,000

Est. Rent value: $1,100

Questions:

• 1.Is it too late to help her out of bad credit if I acquired the property?
• 2.Is it worth it to acquire this property? If so, what will be the offer value to the bank (short sale value)?
• 3.Any one specialized in short sale in Albuquerque , New Mexico? Please advice.

• Every one, Your advice is much appreciated.

• Thank you.
• Randy