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All Forum Posts by: Francisco Torres

Francisco Torres has started 2 posts and replied 3 times.

Post: Quit claim deed - mortgage behind

Francisco TorresPosted
  • Norwalk, CA
  • Posts 4
  • Votes 0

I was able to get a title report. The property has no liens in place. I have checked the paper work on the home and it's about 13k behind. Part of the reason he doesn't want to sell is because if I take it over he could easily rent out one of the rooms in the house.  Which i would be completely ok with. I'm not sure if that would violate any laws. 

Post: Just a young guy trying to learn

Francisco TorresPosted
  • Norwalk, CA
  • Posts 4
  • Votes 0

just looking around attempting to learn the right real estate strategy for me 

Post: Quit claim deed - mortgage behind

Francisco TorresPosted
  • Norwalk, CA
  • Posts 4
  • Votes 0

Hello, I found out about bigger pockets recently through one of Brandon Turners's books. So I have a situation where a friend of my fathers is behind on his mortgage. He is willing to quit claim the property to me. I can afford the monthly payment, its remaining balance is 350k in area going for 500k. I don't have a ton of money saved up. I was wondering if anyone would have a clue how I can save this property. It seems like a good deal. I did see the mortgage is not assumable. Right now any advice is extremely helpful.