All Forum Posts by: Nyashia LaFate

Yes, If the house goes to Sheriff sale the bank stated they would pay the past due amount and foreclose.I am very close with my grandmother and she wants my help but doesnt know her options. Thanks so much for all your info....I will be contacting an Attorney. 

Please help BP family:

My grandmother suffers from Dementia(no power of attorney) and she currently has gotten behind on her water bill and other city services.

The bank will not refinance (mortgage not assumable)and her home will be going up for Sheriff sale next month.

We want to see if I can purchase her home and use it as a rental property.

Could she request a Short sale?

Can we pay the city the 12,500 and work out an agreement with my grandmother?

Any ideas. Any insight would be greatly appreciated.

Here are the details on the House:

Mortgage remaining $28,000(no escrow)

ARV-$100,000

Actual repairs cost $40,000(mold and new roof needed)

City Sheriff Sale $12,500 (water bill, taxes (due to no escrow)and fines)

Currently listed as abandoned property by the city.

Average rent in the area: $1500

Let me know if you require any additional details.

Long time lurker here, finally built up the courage to post. Lol

I really need help with configuring a good deal if it makes sense. 

I want to Purchase my grandmother's home as a rental investment but I'm not sure if its a good deal. The quick details:

Ok Decent neighborhood average rent $1200 19802

Grandmother has a 2ND mortgage $38k she just wants out as she is retiring soon.

House is currently vacant(mold) and is listed as so with the city. If I purchase, i would recieve a 10yr 80% tax abatement. 

Zillow zestimate $103k

Back taxes/water bill $7200 SHERIFF SALE is imminent

Mold issues,new roof needed(est 60k repairs)

How can i work out a deal that makes sense? I have great credit and my husband and i would be First time home buyers. We don't have much liquidity.

Thank you all in advance!!!