Is it possible to find and investor to buy my house that is in foreclosure so that I can buy it on contract?

My husband walked out and quit paying the mortgage a year ago- I did not know about the foreclosure since I am not on the mortgage, but on the deed. Now I am trying to save the house but I'm told I can't get a mortgage even though I make enough money (50K/yr) because of the lack of payments. $135,000 is what is owed now - are there investors out there who would do such a thing?

Yes, there are investors who do real estate transactions like this on a daily basis. It can be a great option for someone in your position to stop foreclosure, save your home, and remain in possession of the property. If you find an investor who will help you do this, you may even end up with lower monthly payments, if they qualify for a low interest rate.

The only big thing you should be worried about is investors who scam homeowners out of their homes. While most investors are not like this, you don't want to run into one of the criminals out there. Some of the most common investor scams are below, so if you feel like you're in any of these situations, then think about finding another investor.

Signing over the title. With this scam, you will be forced or tricked into signing over the title to your home. A potential investor will assure you that paying them an up-front fee and signing over your home will cause the mortgage company to record the foreclosure against them, saving your credit. This is simply not true 鈥?because the mortgage is in your name, you are responsible for paying it, and you will be the one foreclosed on. The investor who you have given your property to has virtually no obligation to help you and will walk away with the fee you have given them.

Surprise quit-claim deeds. Sometimes, while working with an investor, you will find out that you have signed a quit-claim deed. What this does is gives the investor all of your ownership rights in the property. This is used most commonly when individuals want to get rid of their properties very quickly and simply give them away, usually as a gift to a close friend or family member. In this case, though, it is used to steal your home and the equity you have built. If the quit-claim deed is valid and recorded, you have effectively given your property to the investor. The investor can then do whatever he pleases with the property, including selling it for more than you owe and taking the entire sale proceeds for himself. Or, the investor may place a second lien on your property, allow it to go into foreclosure, and be entitled to a portion of the price it sells for at the sheriff sale.

Expensive leaseback arrangements. The lease-option (or leaseback) scam has come under fire by many state attorneys general recently. In this arrangement, an investor will offer to purchase your home and allow you to lease it from them and purchase it back when you have repaired your credit. While this may work out in the best interests of all involved, a number of criminal investors have severely taken advantage of homeowners with this scam. They will structure the monthly payments much higher than what you can afford, and then evict you when you fall behind in payments. Another way this scam can work is if the buyback price is higher than the original payoff of your home. If you can not buy the property back at that price, you will be evicted. But even if you can get a loan for the full buyback amount, the investor will walk away with all of your equity.

Equity skimming. This scam may also be called 鈥渆quity stripping,鈥?and it is usually aimed at elderly, minority, or otherwise vulnerable homeowners in foreclosure. It may be accompanied by a lease agreement or a quit-claim deed, but always involves selling the home to the investor. Usually the investor will promise to pay off your mortgage if you sign over your house to them. You may be allowed to stay there as a renter, because the investor will rent the house while he is the owner of it. However, the investor will not pay off the mortgage, will collect the rent, and let it go into foreclosure. Then he will sell the home, take all of the equity, and you will have the foreclosure on your credit.

Good luck stopping foreclosure, though. Hopefully everything will go according to plan.

ForeclosureFish
http://www.foreclosurefish.com/

what is your home worth ?

I BELIEVE THERE ARE SOME,BUT YOU HAVE LOOK HARD AND LONG. BECAUSE AFTER 3 MONTHS LENDERS USUALY START FORCLOSURE PROCEDDINGS