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Hello,My friend has been a renter of a house for over 2 yrs.The owner did not make payments.The house just went to auction thru Recon Trust, nobody bought at auction therefore becomes REO.What is best way for my friend the renter, who is still in house with 7 kids,to make low offer as REO? any help thanks,Virginia

Your friend can contact the lender and place an offer to buy the property. He will have to negotiate with the lender regarding the price of the property so that he/she can buy the property at a low price. However, it will be the discretion of the lender as to whether or not he will accept the price offered by your friend.

Sub: #1 posted on Thu, 01/27/2011 - 18:20

Anna Sweeting Anna Sweeting

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