Pre Forclousure Deal Nead Short Sale Advice
i am about to get in contact with Loss Mitigation/payoff contact at 1st mtg. company.
owners have agreed to sell. the payoff is more than i want to go. how do i start the negotiations with first.
there is a 2nd and he keeps waiting to hear back from me about the first.
he knows more than likely that he will lose that when it goes to auction, according to his bpo that he already has had done on house.
anyways, this is my first time doing something like this but i feel that i am close and if i can get both mtg companies to take a little less, then it will be worth it for me to work a deal before it goes to auction.
i have checked title and there are just the 2 mtgs, and some back taxes owed.
those would have to be paid even if bought at auction.
any info would be greatly appreciated.
thanks
Get ahold of the loss mit department and once you've done that ask if they'd be willing to take less than what is owed on the property. Ask if the person you are talking to is the one who can make that decision. If they are willing to play ask if they have a short sale package. They'll tell you exactly what they want in the package. Then it's up to you to get them the package. I hope that helps. Good luck!
Ryan J. Schnabel
what about the 2nd, if he will not budge much then what do i do?
any info would be appreciated.