Anyone Done A SS With WMC Mortgage?

Getting ready to embark on a Short Sale with wMC Mortgage.



They own both the 1st and the 2nd.



Total mortgage debt is $50,000 above market value.



They are going to have to take a real beating in order for this to work.



Anyone dealt with them before?



Gogizmo

Comments(2)

  • dirtman897th December, 2005

    If the ARV is $275k what is the balance of both of the loans? How long have they had the loans?

  • benebuck7th December, 2005

    Quote:
    On 2005-12-07 21:05, dirtman89 wrote:
    If the ARV is $275k what is the balance of both of the loans? How long have they had the loans?


    The first is $225k and the 2nd is $40k.
    Needs about $10k in repairs.

    This was originally an 80/20 purchase deal done a little over a year ago. It had perfect payments until just recently.

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