Home-Saver Program

You can help homeowners save their homes if they get behind in payments
and face foreclosure. You can help the homeowner/seller catch up
on payments, buy it using owners’ terms, set up a lease option, or flip it.
Using a home-saver program, you work with mortgage companies,

credit counseling companies, housing authorities, and nonprofits. Here
is how to talk to potential sellers.
It’s important to ask these questions before deciding to take action:
“Why are you selling?”
“How long have you been trying to sell the property?”
“Is the property in your name?” (Make sure you negotiate with the
decision maker.)
“What is the mortgage amount on the property?”
“What’s the least amount you would take for it?”
After a price is stated, ask how they came up with that number. You’d be
amazed how people come up with their values.
In this process, pretend you’re Colombo. Whenever they say anything,
ask another question. Why? How? If they’re reluctant, remind them
that the purchase price, when they bought it, and the amount of the
mortgage is public information. By now, you’re taking on the role of a
real estate doctor. In order to help someone, you need information, so
keep asking more questions.
“How old is the house?”
“Are mortgage payments current or in arrears?”
“If in arrears, by how much?”
“What are the taxes?”
“How much is the insurance?”
“By what date do you have to sell it?”
“How much would the house rent for?”

“Does the house need any repairs? How are the roof, ceilings, windows,
walls, floor, plumbing, stairs, carpet, kitchen, bathroom,
basement, yard?”
“How much would repairs cost?”
And the million-dollar question: “Do you have any others?”
Always ask the sellers if they know about any other properties. You
could even run a classified or display ad like this:

Home-Saver Program—Save your house
from foreclosure. Call now, 000-0000.