Refinancing a foreclosure?!?!?
My partner and I sent out our first set of letters to homeowners in foreclosure. Because I am so new to this, the only route I really know is short saling. One of the first questions I asked the owner was what his plans were, to try and stay or to sell. He has a big family and wants to stay. Ofcourse not only is he 6 months in arrears with his mtg, he has a $20k lien from the city for code violations. He claims this was the first he heard of it.
Regardless I explained to him that I could not help him, but I am curious if he would be able to refinance. He owes $84k and the TAV is $105, his arrearages are $6k plus the $20k lien from the city. I don't want to guess and lead him in the wrong direction, but I definately would like to know for future reference.
Also can you discount city liens?
Thanks for any info you can provide!!!
Martha- S FL 
as far as refinancing goes......his credit doesn't sound too good so this might not be an option for him, as far as discounting city liens, i haven't a clue, anyone else give any insight??