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Updated almost 15 years ago,
capitalizing on my short sale leads
as part of my marketing ( for rehab deals) i've also recieved a few calls from sellers who owe more than what the house is worth; however not all are facing hardships with payments. I'm currently working with a very motivated prospect right now and owes 243K on a 3fam house with 2389/mo payments; home value is right around 175K. She currently owns a primary residence with a mortgage in addition to this investment property and would hate to lose this one or both(in case they come after her). She is current on her primary home mtg but 2 months late on the multi due to vacancies on 2 of 3 units. is this possible or would i be wasting my time? I haven't ventured into short sales but i would like to capitalize on these leads if possible. Advise needed if there's a way. i have all the pertinent info captured from my lead generation spreadsheet.
regards,
Desmond