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 ]
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!
one would think the bank would like to deal w/ one person and not 20.
[ Edited by CarolinaChris on Date 01/03/2008 ]
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