Not Behind, Just Upsidedown
Is it possible to short/disc. a mtg that is not behind on a mortgage, but they are a little upside down. Oh yeah, it's a condo.
FMV 81.5K
Owe 84K
Needs a little work (mostly carpet/paint and minor repairs).
Is there any way to help these people? And make a little $$, too?
Thanks,
Sam
Sam,The only way this will work is if the owner would pay you at least $20,000.00 to take the condo off their hands. I doubt the bank would short sale since the payments are not in arrears. But you will not know unless you ask!