170k, owes as much as home value, SUGGESTIONS?
got a motivated seller.. a month behind on payments.
5bed/4bath
home value: 170k
amount owed: 170k
1st: 80k
2nd: 70k (home equity loan)
3rd: 20k
monthly payments respectively:
750,1100,250
I need some creative ideas to help this guy out. One idea that popped into my mind is to let it go into preforeclosure and do a short sale... is that prudent? Thanks.
[ Edited by mcmoxie on Date 05/20/2003 ]
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