I’m working a preforeclosure lead and not sure what to do next.. or if it’s a good lead. The seller is a disabled vet going through a divorce who is awaiting to hear whether a 2nd loan modification will be approved (within the next week) If it’s not approved..at that time he’s ready to walk away from the house as he’s 18 months behind on payments.
-Foreclosure date is 9/9/19
-He want us to come look at the house ASAP
-The estimated ARV is 418k and he owes about 318k on the mortgage. ***
But I think it’s a VA loan -
1. so is this a non deal bc it’s a VA loan?
2. How should I structure this deal (Subject 2?)
3. How do I stop the foreclosure and/or buy time before the sale date?
Pls advise. Thanks