I received an interesting call today from someone responding to my first batch of letters sent as a RE Investor :wink:. The home is going to be sold at foreclosure auction soon, and the homeowner chose bankruptcy as her option. My letter happened to outline all of her options (highlighting selling her home quickly to me) and she realized that she'd jumped the gun by choosing bankruptcy. She said she just paid $100 to get started and the process (which I'm not familiar with) is just beginning.
My question is, is it still possible for her to sell her home now?
If so, this leads to my next question. She owes more than her home is worth as a result of a 80/20 loan, I read somewhere that there are options for investors to successfully invest in homes such as these, however, I can't quite remember where I saw it. I didn't pay much attention to it, because my main objective as a wholesaler is to stick to obviously profitable properties (as a newbie) but perhaps some other seasoned vet investor might have a suggestion.
Time is of the essence here, anything I can do?
