We have a neighbor that has his home listed and is 3 payments behind. It is a manufactured home (technically mobile home). Listing agent says the bank could just come and repo it, much easier than a regular foreclosure according to her. However, they would have to tear garage down to get it out, and I can't see that happening. We are interested in taking over the payments for what he owes on it or doing a lease option from him for what he owes. He just wants out and says he is going to declare bankruptcy in the next few weeks if he can't sell. We want to buy it for ourselves. He owes 77K but the garage, house, and everything is worth over 100K. How could we structure this so that we don't have anything out of pocket? Thanks!
"If God is for us, who can ever be against us?" Romans 8:31 NLT