11527 Inez Dr, Jacksonville, FL
The Seller’s Situation
After job loss, the seller was approximately seven months behind on the mortgage. The seller had attempted lender workout and partial-payment solutions. Realtors indicated that repairs and a longer conventional sale would likely be needed, while other investor cash offers were too low to address the situation.
The Property Condition
The older home needed repairs. The property was taken as-is rather than requiring the seller to complete that work before the transaction.
The Transaction
The property transferred using existing financing. The mortgage delinquency was reinstated, the seller received cash, and the existing mortgage remained in place. Reinstatement was a separate part of the transaction; taking title subject to financing does not itself cure a default or release the original borrower.
What This Example Shows
The condition of the home, the delinquency and the terms of a proposed purchase all affected the available choices. This example involved both an as-is transfer and reinstatement; it should not be read as an automatic result of an existing-financing sale.
Photos From the Property
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