Posted by Andrew on October 26, 2004 at 18:46:14:
In Reply to: Create a second to stop foreclosure? posted by John on October 26, 2004 at 17:30:21:
John,
Some random things to think about...
Does the $99k include the arrears? If so, just buy the place from her.
$27k in arrears is a huge number on a house in this price range. She's real good at not paying. I wouldn't lend her a dime unless you plan on following through with a foreclosure in the near future while covering the first.
If she can't pay the first, how's she going to pay the first and second? How is she going to refi in 2 years?
I'm sure she's real flexible on terms and isn't at all concerned about a pre-pay. Heck, she doesn't pay, let alone pre-pay. ;-)
-Andrew
- Re: Create a second to stop foreclosure? John 19:02:01 10/26/04 (0)