``````````````````````````"One of the most neglected virtues of our daily existence isappreciation, Somehow, we neglect to praise our son or daughterwhen he or she brings home a good report card, and we fail toencourage our children when they first succeed in baking a cake orbuilding a birdhouse.Nothing pleases children more than this kind of parental interest andapproval.

However, if they did wind up launching foreclosure, I would probably be the first homeowner in the history of this HOA to wind up in that unfortunate circumstance. 

@Isaac Frost Being in similar circumstances, albeit a different price bracket, I think it sounds like you are taking care of all the parties' interests with this split. 

There are transactional lenders to bridge the gap.If you have workable circumstances, the seller can seller finance (sub-to if need be, not a consumer loan) to close your side, then pay off the note.

Under normal circumstances, I would have paid cash, got the property in good order and then gotten a mortgage.  

My experience that the ones who don't ask or care to know about the property are the ones who neglect to report repairs and leave the property in a bad shape.

If the deal works at the 50% rule then it works under better circumstances.

It is older and neglected but in a highly sought after area. 

i need a short term loan (40k) against the equity in my primary residence. i own it free and clear. it's valued at 65k. i have no stated income. credit score 675. $0 debt. i've inquired at the banks about heloc, but h...

One thing I know is that no matter what your circumstances, if you look at all the possibilities, and find one you CAN do, you can take the first step, then the next, etc.