Not Behind, Just Upsidedown
Is it possible to short/disc. a mtg that is not behind on a mortgage, but they are a little upside down. Oh yeah, it's a condo. FMV 81.5K Owe 84K Needs a little work (mostly carpet/paint and minor repairs). Is there any way to help these people? And make a little $$, too? Thanks, Sam
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Sam,The only way this will work is if the owner would pay you at least $20,000.00 to take the condo off their hands. I doubt the bank would short sale since the payments are not in arrears. But you will not know unless you ask!