First Short Sale Question
A friend of mine has a 2BR 1BA home that he owes Wells Fargo $62K. The "assessed" value of the home is $47K (Tax purposes). He paid $65K in 2004. I want to know what I need to do to start the process. I know that I need some sort of authorization form so the lender will speak with me. Does anyone have a copy of any forms that may help me and if so, could they email them to me please?
Also, can anyone tell if the aforesaid situation sounds like a decent investment opportunity and if anyone has experience can they advise approximately how negotiable Wells Fargo may be. Keep in mind they have just started the foreclosure process and have not even retained an attorney as of yet.
Thank you for any help.
Todd
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