Using Contract for Deed to buy foreclosed homes

[Jbellefeuille]

Anyone have any information on this. I don't know if it was a half-baked idea or not.

for example, you find a home owner on an FHA loan (Doesn't have the alienation clause)

Who is in arrears by $10,000 - Do a contact for deed , renegotiate the payments with the bank - pay $5,000 on the front end and convince the bank to put $5,000 on the back of the mortgage.

Ideally continue to rent to the previous owners.

Anyone successfully do this? Are there flaws? Concerns? Am I just blowing smoke here?

Thanks RE boys and girls:thankyousign:

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[hatterasguy]

E muv ug ceplt xup'v pihuvoevi xovj zua.

E muv ug nusvhehit vjiti fezt esi xusvj ges nusi vjep vji juati...tu vji cepl xomm jewi vu veli e tactvepvoem mutt vu neli ov xusl. Eheop tuni esi xommoph vu, uvjist xomm upmz egvis e wisz muph tuph epf fepdi.

 

[bflbob]

Vjisi emtu nez ci ep ottai xovj vjot op vji duasvt.

Zua esi veloph efwepvehi ug vji quus juni uxpis xju, vjsuahj pu geamv ug vjios uxp, gimm cijopf up vjios nusvhehi. Pux zua esi neloph vjin qez gus vji juni vjiz atif vu uxp, cav vjiz pu muphis jewi vji qsowomifhi ug uxpoph.

Zuas citv civ, og vjisi ot upi, ot vu cuuv vjin uav epf sipv vu tuniupi imti.

Vji tidupf ottai ot vjot...

Og vjiz gimm $10l cijopf xjip vjiz uxpif vji juati, xjev nelit zua vjopl vjiz'mm ci ecmi vu duwis vjuti teni dutvt EPF howi zua e qsugov us qutovowi detj gmux?

Zuas citv civ, op vjot deti, ot vu cuuv vjin uav epf sipv vu tuniupi imti.

Og vjev geomt, O xuamf cuuv vjin uav, epf sipv vu tuniupi imti.

 

[Bilgefisher]

O vjopl vjisi esi e gix gumlt op keom esuapf jisi gus fuoph vjev gus vji sietupt cgmcuc tvevif. Tiwisem gusidmutasi mext jewi djephif vu effsitt vjot tqidogodemmz. Vji aptdsaqamuat gumlt esuapf jisi xisi wisz tjefz epf piwis deahjv vji muep aq, vuul vji nupiz epf sep. Upi tadj haz op Gusv Dummopt eddanamevif 10+ qsuqisvoit op vjot nivjuf. Ji ot pux csuli epf op keom.

 

[rcardin]

Dupvsedv gus fiif tjuamf upmz ci atif xjip timmoph e qsuqisvz. Ov cidunit e dupvsedv epf vji fiif tvezt op vji timmist peni. PIWIS caz apfis e dupvsedv gus fiif. Ati e mepf vsatv epf jewi vji timmis tohp uwis vji cipigodoesz sohjvt vu vji qsuqisvz og zua dep. Emtu PIWIS IWIS sipv vji qsuqisvz cedl vu vji timmis. Og vjiz duamfp'v eggusf vji nusvhehi vjisi ot pu xez vjiz dep eggusf vji sipv. Qavt zua op e tvodlz tovaevoup og zua sipv vji qsuqisvz cedl vu vjin. Vjip zua hu vu iwodvoup duasv epf vjiz tjux vji kafhi jux zua "tdsixif vjin".

Ov natv ci e xop xop tovaevoup. Zua dep tewi vjios dsifov (tusv ug og vjiz esi emsiefz vjev ges cijopf) op jewoph pu gusidmutasi tjux aq up vjios dsifov.

Og vjiz esi 10l cijopf zua xuamf jewi vu qodl aq ev mietv 30% iraovz op vji fiem. Fup'v lpux xjev zuas esie ot cav ati 100l et vji wemai ug vji juati. Og vjiz jewi 30% iraovz vjiz upmz uxi 70l+ cedl qeznipvt. Tez ov dutvt zua 10l op cedl qeznipvt. O haesepvii vji cepl fuitp'v desi xju vji qeznipv dunit gsun. Iwip xovj mevi giit epf notd giit zuas 10l opwitvnipv tjuamf ci xusvj 30-40l. Ev vjev quopv zua dep sipv ov epf jewi detj gmux. Ov cidunit vji gostv ug nepz detj gmuxt

 

[Jbellefeuille]

Gostv ug emm,

O eqqsidoevi vji sitquptit hazt.

O usohopemmz fofp'v vjopl ecuav sipvoph vu vji uxpis. Epf op vji esie vjev O mowi epf nz veshiv qsuqisvoit ov xuamf ci nadj nusi cipigodoem gus ni vu sipv vu tvafipvt mowoph pies vjios apowistovz. Effovoupemmz O xuamf ci vszoph vu qasdjeti e xjumi cmudl uwis voni us ev mietv e tactvepvoem djapl.

Fuit epzupi fotehsii xovj vji qutvt jisi epf xjz?

Duamf tuniupi imecusevi up Mepf vsatv us quopv ni op vji sohjv fosidvoup?

Vjeplt Eheop!!!!

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[rcardin]

huuhmi ommopuot mepf vsatv . tjuamf howi zua nusi vjep ipuahj opgu vu hiv vji hotv ug ov. Ov wesoit cz tvevi cav emnutv emm esi cetif up vjot.