I have a possible short sale where the owner wants to stay in the house and buy it back after two years. My problem is I have bad credit and no money. I do however believe I could be lent the money on a very short basis to purchase the property. I would then want to refinance right? How could I refinance with poor credit and no money? Could I do that the same day? Any suggestions would be great. I would really like to try and do this on my own.
Somemore info the property was appraised at 276,000 and I believe the bank may accept 175,000. I would like to be able to pull cash out and move on to the next deal.
Please any feedback would be great.