How Can I Help This Home Owner?
I hope I posted this in the right place.
The home owner owes 130,000 on first and 90,000 on second. Has been served with a foreclosure notice from the second holder and the first. He has an appraisal for 410,000 from 2 years ago. He would like to refinace for 300,000 to pay it all off.
What makes this situation interesting is the fact that the home owner is a ferderal whisle blower. He turned in his boss who had the ablity to have his second called. His boss then refused to pay him and he fell behind on the first. This has trashed his credit.
He has a letter stating the facts from the Treasury Department. He WILL NOT sell or leave his home. This guy has been burned bad and has a hard time trusting anyone. I would like to help but not sure how.
He is willing to refi at 7 to 8%. He is working.
Any ideas? 
Comments(0)