Short sale?
Hi
I found an abandoned house ( Douplex) in a nice neighborhood the comps $ 93000-95000) I found the owner and got some info. from her.
She does not want to go to forclosure She did not pay since february 2 she has two mortgages one with first Frankling for $ 73,500 the second $ 18,373 with Chase
Do you Think that it is a good cadidate for short sale?
Thanks
Tony
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If the Homeowner has a good reason for allowing the mortgage(s) to default, if there are no other liens on the property, if she has no other assets that can be liquidated to payoff the loans, if the property is in need of repairs, and the first mortgage loan isn't an FHA insured mortgage loan... then yes, this might be a good candidate for a short sale.