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Updated over 7 years ago,

User Stats

5
Posts
0
Votes
Elena Meadows
  • Investor
  • Wilmington, NC
0
Votes |
5
Posts

Ideas to structure a deal with this situation?

Elena Meadows
  • Investor
  • Wilmington, NC
Posted

Messy divorce where both parties have vacated the property. They have collectively failed to pay the mortgage and now the house is going into a FC auction very soon. It is not currently on the market. Liquid capital available to pay off outstanding mortgage payments and stop the FC, but not enough to pay off remaining balance, as in a cash sale. Current TV is about $85K more than mortgage balance, and TV is usually significantly less than market value in this area. Any ideas to make this a win-win? The clock is ticking.

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