Am I Missing Anything Here?
I am looking at a 211 unit apt that has 16M delinquent and and face note value of 22M (?).
Does this mean that in the life of the note "nothing" was paid on the note?
Why would the holder allow this to go so far?
Is my understanding correct that the face value of the Note is 22M and the delinquency amount is 16M. If so then the loan was paid down to the 16M dollar mark from 22M. What is the appraisal value of the property?
[addsig]
Just curious. If the short sale price is at FMV, why would you want it?
Have you gotten anywhere with your friends house??
let me know-
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[ Edited by JohnLocke on Date 07/18/2007 ]
Are you the lender or mortgage holder?
[addsig]
Oh, sorry, I own both properties
Are you looking to sell the properties and finance it for the buyers? explain the situation with more details of what you are trying to do. There are ways of selling your property quickly and for full value without having to worry about foreclosure.