Posted by: Jamie Verkist
12/27/2004, 09:50:36
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Hello,
Ok here is the deal..........I have posted earlier about this deal and now I have it and trying to assign. Owner is behind in payments 3200. Victorian house divided into four aparments inside...rents would be over 2k a month. House needs 17k more in rehab 9k in rehab has already been put in and I have an appraisal for 169k(FMV is 179k or more). Mortgage is for 105k. Owner got a letter from lender's attorney's saying she needed to come current on her payments or pay off the balance or they would start foreclosure proceedings by Jan. 30th. I have the house under contract and am trying to assign this as I decided I do not want to rehab. They just called today saying they wanted to hear something by Dec. 30th. How can I stall the attorney's? What do I need to tell them? She has entrusted me with everything. Anyone interested in taking this over for 8k?(I just want a portion of the 9k put into rehab already.) Any advice would be greatly appreciated. Email is jamiever99@yahoo.com Deal is in Georgia.
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