Preforeclosure help needed!

[debbrantley]

:hammer  Please bare with me I am new to this!
I am looking for help on a preforeclosure that belongs to a friend and her 80 year old mother. She is currently 6 months behind on her payments approx ( $4900 )  and she owes the bank 78,000 except that yesterday the bank now says they must have 86,000 which means they are adding on late fees , late payments , attorney fees, etc..  My plan was to try to short sale this property  but, since I do not have the money to catch up on the payments or the money to pay it off I figured the bank would not  work with me on it.  We need short term money to help these people and we are looking for a buyer for the property  Currently, I have a contract on the property and it is in really good shape . I would guess the house to value at between $110,000 - $115,000.  Please, if any one has any suggestions or can offer the money for short term say 60 - 90 days please respond........debrantley@yahoo.com  I am located in Ky! thks!  :thumbsup

[Admin]

Deb,
We've gotta have more info to make suggestions.

How long do you have?
Has it been posted for foreclosure yet?
The owners are willing to walk to save their credit?
What's the payment?
What's the rental market for it?
What's your intentions - to just help or to profit?
Can you qualify for a loan?
How about an 80% loan?
How fast are properties like it moving?
What sort of repairs does it need?
Has it been listed?
etc., etc.

I hope this helps understand why there weren't any responses.  The situation is everything and is critical to analyzing potential solutions.  You haven't provided enough info to know what's going on.

just my view...