buying upside down properties

[Michael C Gregory]

If you see a property owner who is in trouble, and let's say his loan is for $200,000, and the ARV is $180,000. And you want to offer him $117,000. How does this work? Will the deal have to go through a Short Sale specialist? If he agrees to the deal, what happens to the balance ($83,000) of his loan?

Thanks.

Michael C. Gregory

Remedy Investments, LLC