Ask Paul Wells

This seems to be a question that a lot of investors ask. But you need to understand that the banks, as long as they are getting paid, have no motivation to do anything to help the homeowner out. In the banks eyes everything is fine. In the homeowners eyes there are problems on the horizon. Really the only thing that you can do is to take the house in what's called 'SUBJECT TO" financing. That means taking over their payments once they give you the deed to the house. The loan remains in the homeowners name and the responcibility remains with the homeowner to make the payments. But if you do take the house "subject to" then be prepared to make the payments. I would make sure that the payments can be covered the rent.