The first part of your question answers the last. Ability to pay is the key for a bank to honor a short sale. You must prove hardship in making your payments OR a need to transfer out of the area or state because of job loss and finding employment elsewhere. Hope that helps!
It can only be an option if the Seller is willing to go along with the terms. I would say safely that ALL Banks will not consider Land Contract as a option to sell a foreclosure, just in case that is what you are looking at. And you probably would need at least a 1k downpayment if not more. Hope that helps!
Contact a local realtor in the area of the home, Most likely this property has not even been listed yet. lists of foreclosures are founds elsewhere on line but they too don't get the proper info until they are listed on the local mls.
Your best bet is to contact a local realtor in the Bridgeport Mi area, they can then check the local MLS for complete details. Sometimes sites like these only put feelers out to attract paying clients.
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