Posted by SDM on July 19, 2002 at 20:10:09:
A hard money loan might work but we HM lenders are being a lot more careful now. Tell him you will buy his house at a discounted price. Then turn around and sell to a retail buyer and keep the change. This person is going to be very desperate soon. He will either file BK, which the judge will probably rule in favor of the lender, therefore he will receive nothing. Or he can sell to you and at least get something and no BK on his credit.