Help2020 0 Report post Posted September 13, 2011 Hey Guys,Im new to the post, I'm putting together my first Lease option and I had a question. My question is, individual owes $180,000 but the house are selling for about a $172,000 and the mortgage is 1800 a month. It's a newer house. I'm just seeing if this is something worth tackling,They're not behind on the payments. So I just wanted to figure out what would you do or how would you structure this to sell it to the tenant buyer. Andy Share this post Link to post Share on other sites
speedingpenguin 19 Report post Posted September 13, 2011 sounds like a short sale rather than a lease-purchase... Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 13, 2011 Hello, Andy, and welcome to The Naked investor!This looks like one of those deals we can have if we want it, but unfortunately there isn't much you can do with it. Chris pretty much summed it up: if the homeowner is looking to sell it would have to be via a short sale. But seeing how they are current on their mortgage, they may not be motivated to go that route and even if they were their lender wouldn't allow it at this time, seeing how they are making their payments. Share this post Link to post Share on other sites
Help2020 0 Report post Posted September 13, 2011 Hello, Andy, and welcome to The Naked investor!This looks like one of those deals we can have if we want it, but unfortunately there isn't much you can do with it. Chris pretty much summed it up: if the homeowner is looking to sell it would have to be via a short sale. But seeing how they are current on their mortgage, they may not be motivated to go that route and even if they were their lender wouldn't allow it at this time, seeing how they are making their payments. Thanks Guys!! -Andy Share this post Link to post Share on other sites
