In some cases after recieving the notice of default, the homeowner may be able to go through with the loan modification, but will still be in a difficult situation to make the monthly mortgage payments. In this case, we are still able to help them walk away from the property but avoid both a short sale and foreclosure.
This is a tremendous win-win situation for both the investor and the homeowner.
We have also seen in this situation investors set up a Lease-Option in the recently purchased Subject-To property. This is also a win-win situation for both the Lease-Option tenant and the investor: the tenant gains an ownership stake in the property while working towards a better situation to excercise the option to buy, and the investor secures the option money while having a tenant who has an ownership stake in the property.
Believe it or not, this strategy is starting to make sense here in Orange County California as the buds of cash-flow property are starting to sprout.
Geoffrey & Gabe
OC Short Sale Guys
(949) 287-4483
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