Plan B? Move On?
Hello to all!!
My situation:
3/2 2y old House in foreclosure
FMV = 235K
Payoff for 1st = 170K
2nd = 38K
1st is foreclosing
Short sale on second.
Short sale was not accepted.
The negotiator for the second said that they are trying to see if the original note holder will take the note back.
Has anyone ever heard of this before??
Thoughts?
Thank you in advance!
I forgot to mention that the house is located in a subdivision that is still under construction and there are approximately thirty homes for sale by preconstruction investors. There are also about a dozen homes that are for rent.
The homes for sale have been on the market for more than ninety days and are competing with the new homes sales in the subdivision.
Just thought I could give it a try.
Quote:The negotiator for the second said that they are trying to see if the original note holder will take the note back.
what does this mean?
Thanks.