Short Sale Candidate?
I have a lead on a pre-foreclosure home.
1st Mortgage: 125000
2nd Mortgage: 15000
FMV: 170000
The owner is 4 months behind.
Can I short the 1st or 2nd?
What would your strategy be for this deal?
Thanks for the help.
I am looking to flip this property.
And the compelling reason is that they are already in Bankruptcy - Chapter 13, and likely to file for Chapter 7.