Shortsale/Structural Damage
Hello, question for any of the shortsale guru's out there. I have a house that I have been working on with structural damage. The mortgage balance is pretty low, but not low enough for us to do anything with. Also, the mortgage is not been late and the area is not very high in property value either but the land certainly can be used. Has anyone ever heard of or shortsold a property that was not in arrears? The house will be condemed if nothing is done about it. Thanks in advance for the knowledge.
I described a scenario such that the mortgage payments were current, but the mortgagee approved a substantial short sale in A Short Sale Primer entitled, Never Say Never.
Though it is infrequent when the loan is current, a compelling proposal might be considered, and accepted.
If you would like some E-Coaching, purchase ASSP and I'll dedicate an hour or more helping you to structure your Proposal.