I possibly found a deal!

[Bill Axford]

Im working on a lease option right now with a motivated seller.

There is problem though the house is worth 215k but, they have 2 loans the first one being 177k and the second one being 25k for a total of 202k.

These people are really motivated and said they would let me have the house for the first loan balance.There payment on the first mortgage is 1150 a month and the total between the two is 1300 monthly. Fair market rent is probably 1200 monthly.Is there anyway this could work without doing a Short Sale. If not is this deal worth trying to pursue.

Bill