So there is so much that goes down to principal debt and the rest is profit.

Show them the tax incentive for real estate, their profit and capital return and you take 50% of profits after they get their principal back plus 10% interest per annum.In the above examples you can entice them and they won't feel you are taking advantage, why should they turn over 50K or 100K or more and split profits?

I learned a long time ago, sometimes getting half of what they owe is enough not to waste any more time and money fighting with the insurance company.I shared that to say, you can file a claim with your insurance company, but they may or may not pay the claim?

In the three states I'm licensed in, all three have "Exclusive right to sell" listing agreements in which case if the seller finds their own buyer, they still owe the agent the commission and there's "Exclusive agency" listings where the seller can avoid the commission if he/she finds their own buyer.Your seller will need to read the listing agreement and perhaps have an attorney read it as well to see if she can get out of the agreement without paying a commission.

Lenders do not want to foreclose, especially in NY, it is a major pain and takes lots of time.They want to lend on terms, collect interest and the principal according to the terms of loan.

The owner owes 200k to the bank and is about to lose it.

We like the cash but having that cash flow every month and not owing anything on the property is nice but cash can actually do a lot too.

We got the paperwork and we are closing on the house in a few days.Just wondering, I know the laws by state are different , but when called the creditor , we found out that the credit dates back to 1979, for some money the desease owner owed to Sears.

Don't get stuck on what you're paying for the note in relation to the principal balance (like 30 or 40 cents on the dollar).

Then obviously you have principal and interest to factor in as well.