Posted by William on April 30, 2006 at 14:01:33:
the property will be auctioned off on tuesday may 2nd.
HELP what are my Options - Posted by William
Posted by William on April 30, 2006 at 24:24:31:
I got a call friday morning from a gentleman facing foreclosure this coming tuesday on the 2nd of May. I put together a short offer and submitted the offer to the bank via fax friday evening. I dont know if they will review it in time to consider the offer. The numbers are:
- appraised value 72k
- loan balance 32k
- payoff 42k
- deficiency judgement 10k from yrs. ago
- short sale offer is 27k cash
The owner is totally cooperative and just wants out of the situation. My question is If they dont consider the short sale offer (not enough time or simply reject the offer), What other options do I have in order to capitalize on this deal. What other ways can I creatively force this deal to work given the time constraints. Thanks for the advice,
Willam
Re: HELP what are my Options - Posted by Joe
Posted by Joe on May 01, 2006 at 09:40:46:
How much is the judgement for?
Re: HELP what are my Options - Posted by alex
Posted by alex on April 30, 2006 at 09:52:54:
When you say facing foreclosure, are you saying the redemption period is up on the 2nd of May? Or is that when the sheriff sale in to happen?
Re: HELP what are my Options - Posted by William
Posted by William on May 01, 2006 at 22:26:17:
The judgement was negotiated down to $4500.