Evaluate This Atlanta Deal For Me?
i found a bankruptcy 13 owner whose has 30-45 days before they foreclosure. The brick fronted townhome/property is 4 years old and she is $12k behind-$1,000 mo payments.
comps are $110k and her balance is $118k-she was a mortgage fruad victim.
Would you approach the mortgage company with a $60-70k offer with the fraud stats alone with a hardship letter.
her husband did leave, after she moved in a she cannot and has not paid but 1-2 payments in 2 years.
If i can get a short sale and want to sell the option what would you try to sell it for based on a $65k buying price from the mortgage company?
Thanks for your help!
[ Edited by RALPHN504 on Date 10/17/2006 ]
wonder what happened, let me know, I used to buy property in Macon, Ga. advice, "walk away", a new deal is around the corner. you will become the victim, and by the way, I would offer the bank 40k, all they can say is no or yes.