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Short Sale Candidate?

rparik profile photo
  • Friday, March 11, 2005 @ 02:13 PM EST
  • 1 Comments
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.
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  • rparik
    rparik25th February, 2005
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    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.

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