A friend asked me to look at a possible sub2 deal so i pulled it up on the county clerks site and the seller bought it 2-28-23 and has a mortgage of $176936. 12-8-23 $18828.24, 5-16-24 $9379.24 and $9197.91. All of these last 3 mortgages are to Housing and Urban development. Any thoughts? I think she hasnt made any mortgage payments and somehow the bank or some govt agency keeps taking a mortgage position and giving her another chance.I also found 2 judgments since purchase,one of which looks to me like a former landlord she owes about $12000. I havent seen anything quite like this before and yes i confirmed each of the last 3 mortgages are on the house in question --143.198.xxx.xx

Interesting tho, and I am curious how this will play out. --107.147.xx.xx

This one looks like the current owner might well know how to play the system and play the professional victim. --97.85.x.xx

You are usually buying much cheaper properties yourself, is this in a different county? --73.19.xxx.xx

This is a house a friend is interested in, 2 family, if he took it over sub2 he can make $1000 month from it.The owner doesnt live there,she told him she got scared of the neighborhood,i told him something else is up.All 3 are mortgages,dont appear to be mortgages and not repairs.He is trying to get a mortgage statement but she is reluctent to send it so something is up,if i am correct she is about 5 payments behind.he thinks is is worth $250000-$300000 but i havent looked at comps.I wouldnt take it sub2 simply because i think this girl is a trouble maker and i wouldnt want to get caught up in her problems --143.198.xxx.xx

6x6 This is the county where i got started but moved most of my business a couple counties away 20 years ago,i prefer the lower prices and more of a country atmosphere than the ghetto i was working in.I live in this county but out in the country so i end up driving 45 minutes to most of the areas where i buy houses --143.198.xxx.xx

The other option is to wait for the sheriff sale and buy it then. --136.61.xx.xxx

--173.188.x.xxx

Ray, we have a rural development money but this is in a city,we do have money in this city but i have never seen it paid out 3 times in this short of time and this owner is young, i only see it used for elderly owners.I am convinced she is not paying and they dont want to foreclose,i hope my friend gets the mortgage statement but it doesnt seem to be coming --143.198.xxx.xx