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Help with possible foreclosure deal

Posted by Sgetz67 on August 09, 2003 at 9:24 AM

I was wondering if this was a goo deal for a foreclosure in So Cal.
HOUSE VALUE 195K

Owner owes 80K on 1st (No other Liens)
Owner needs 15K to cure loan
Misc. Expen. 30K for closing costs etc.
Give owner 60K cash at closing
Profit to me 10K

I know that it is alot of money to give the owner but in this sellers market I am thinking that any deal right now is better than no deal. Any suggestions? Thanks.


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