from the looks of it your friend owes more than its worth 180k + 80k + 10k = 270k and appraised value is only 240k. The best way to proceed would be to short sale the property [ Edited by MasterJ26 on Date 03/24/2005 ]
Before you proceed, make certain that you are on the same page... for once the petition for bankruptcy is filed... your deal will self implode or stagnate
Looks good thanks,
AD
from the looks of it your friend owes more than its worth 180k + 80k + 10k = 270k and appraised value is only 240k. The best way to proceed would be to short sale the property [ Edited by MasterJ26 on Date 03/24/2005 ]
Before you proceed, make certain that you are on the same page... for once the petition for bankruptcy is filed... your deal will self implode or stagnate