Short Sale 20 Properties?

The investor has about 20 properties with the same lender and is in default. Is it possible to work on a short sale on the package? A few properties have equity; overall mtg is 4.6M and value is about 7M. So as a package it is already at 65% LTV

OR just do short sale on properties with high mtg (>90% LTV). Will the lender even consider the SS on this property when another property with the same lender has equity?



[ Edited by SKrei on Date 12/20/2007 ]

Comments(4)

  • ICGPROPERTIES26th December, 2007

    yes, it is possible. This is advanced negotiating, but it can be done. Contact me if you need our help. This will be a fun one!

  • cjmazur27th December, 2007

    one would think the bank would like to deal w/ one person and not 20.

  • CarolinaChris3rd January, 2008

    [ Edited by CarolinaChris on Date 01/03/2008 ]

  • AmericanRealtor31st January, 2008

    short 1 property at a time, you will prob get them cheaper over all.
    is the same buyer purchasing all of them? where are the properties located, i have buyers for bulk packages of short sales

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