Some Finer Points To Short Sale Negotiations W/ Lender
Absolutely one of,if not THE best place on the face of the earth for the absorbtion of RE knowledge! So fortunate to havve this avail to us all!
The issue is this; having struggled for a year now working SS s, I am finding I must learn some buttons to push which give lenders the feeling that I am sweetening the deal but NOT cutting my own arm off in the process. Really found myself @ a cross roads, in need of some technique, some rule of thumb,.....T.Y. for reading, I plan to receive some great guidance from you all.
Hunter
whats the face value of the note? What interest rate? What amortization period? Is there a balloon?
$40,000, 7%, 12 years or so ($400/month, no baloon). Good credit report, unseasoned, apraised value of security probably around $48,0000.
I was mostly wondering if there is someplace (online perhaps) where I could go to sell it if we decide to.
[addsig]
It is going to be at the purchase price, so you would have to do 100% at 90k unless you had money to put down. The best way to get the equity out would be to get a 25k equity line/loan. What state are you in?