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Updated over 8 years ago on . Most recent reply

Account Closed
  • Pompano Beach, FL
6
Votes |
39
Posts

Owner owes more than appraisal

Account Closed
  • Pompano Beach, FL
Posted

Hello BP community, I have a coworker who is going through a FC. The problem is that he owes more on the home than what the home is actually worth. The bank wants him to put up 80k to stop the FC. The home is worth about 200k and the mortgage is 300k. What strategies could be used here. 

Thanks for the help everyone.

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