Need Assistance - SSPro Or Experienced ONLY
I have a client who was referred to me through a mutual friend this afternoon. She is facing foreclosure on three properties that she signed loans on.
Evidently she got herself in a situation where she thought she would make her some money and got scammed.
The FBI has imprisoned a few of the individuals and she is stuck facing foreclosure. Each property is maxed out to the limit.
Two are 2-flats with mortgages of $188,000 & $259,000 respectively(2 mortgages $200,000 + $50,000 + $9,000 in back mortgages and fees = $259,000).
One is a single family home with a mortgage of $139,000.
None of the properties are a primary residence. She has never seen the properties.
Is it possible to complete short sales on each property? If so, what would be the ramifications on her primary residence(if any).
Given the illegal actions that have taken place is their another way out for this individual?
Thanks for any seasoned input.
I've responded via PM.
SSPro,
Sorry for the inconvenience. Could you please respond again via PM.
Thanks,
Ebyella