What if I "sell" the house to him for let's say $300K, he gets a conventional mortgage to get the hard money first of $240K paid off and brings his 20% down payment of $60K + closing costs to the table, and then closes on the purchase.

In my area normally selling a property at 70-75% of ARV minus repairs would bring quite a few buyers, but I'm finding that I need to be selling them at 65-70% of ARV minus repairs to bring in the same response that I'm used to.

Just don't bring up politics or bulk REO and everything will be fine!

We specialize is bringing you solutions for your problem property.

Would it be better to just ditch the one with the bad credit even though she can bring a significant investment to the table?

Even with the most detailed cautious lease it seems that 'your/my' specific situation will bring up an issue that was not specific enough in the lease.

I'm working with Indymac right now - they are quoting me 30 days out she stressed to me how they really want to work with me and they are working hard to bring their time frame to 30 days.I can say that the moment they got my contract the bpo was ordered.

So I know im bringing back an old thread but this has the makings of what I was going to do anyway.

If you come seeking advice, you should be open to receiving it and really thinking through each suggestion.For example, you believe you can't sell your cars because you are underwater but let's look a little closer using purely made up numbers:o Assume $1000 in monthly car payments total for the next 24 months = $24,000 more to be paid.o Also assume that you are "underwater" on each car $5000 so if you sell both, you need to bring $10k to the table.o Replace with a single crappy car for $3ko Ignoring time value of money, you just "found" $24k-10k-3k=11k.

I have only heard of such success, but I can tell you it depemnds where you bring this type of action.