Anyone Done A SS With WMC Mortgage?
Getting ready to embark on a Short Sale with wMC Mortgage.
They own both the 1st and the 2nd.
Total mortgage debt is $50,000 above market value.
They are going to have to take a real beating in order for this to work.
Anyone dealt with them before?
Gogizmo
If the ARV is $275k what is the balance of both of the loans? How long have they had the loans?
Quote:
On 2005-12-07 21:05, dirtman89 wrote:
If the ARV is $275k what is the balance of both of the loans? How long have they had the loans?
The first is $225k and the 2nd is $40k.
Needs about $10k in repairs.
This was originally an 80/20 purchase deal done a little over a year ago. It had perfect payments until just recently.