Phone Finally Rings and I Get Tongue Tied!!! - Posted by Wayne (MD)
Posted by Wayne (MD) on March 17, 2001 at 14:52:09:
My phone finally is starting to ring thanks to the fine advice I?ve received from this board and I think I have a possibility. Unfortunately there is nothing worse than being a rank amateur, I found myself nearly tongue tied when I spoke with the caller of this particular house and didn?t end up doing a very good interview.
Here are the facts that I have so far: 3br, 2 ba, about 10 years old. Owes approximately $135,000; fair market value about $139,000 - $145,000 (my unseen guesstimates). She said it was on the market for a short period last year for $158,000. Eventually, the meat came out: ?We filed chapter 13, but we did not include the house because we didn?t want to lose it?. This doesn?t sound quite right and seems far more complicated for me than simply dealing with someone who is merely a few months behind in payments.
Frankly, I was so taken aback by the fact my phone actually rang that I was out in left field the entire time and I forgot a million things I think I should have asked, such as ?When did you file Chapter 13??
Should I just pass on this until I have a little more experience under my belt in this type of situation? I had no trouble at all making a $65K cash offer for a REO dump in a nice neighborhood this morning. But then I know a little about dealing with dumps.
Any guidance will be appreciated.