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  1. Propertymagnets
    Hi Everyone, Has anyone have any experience with this? If a property has negative equity, (a duplex) what would you do? Walk away, try to get the property??? The reason I ask this question is because I found a property with an out of area owner that has negative equity/upside down on their mortgage and wasn't sure if I should even consider pursuing this property. I am in communication with the ownersand they want their headache gone. My lawyer has drawn up documents that will allow me to take over paying the mortgage, collecting rents of $2700/mo. to pay a mortgage 0f $2263.00/mo. I would also have power of attorney with right of first refusal. Any advice or input is greatly appreciated.
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