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Updated over 8 years ago on . Most recent reply

Ken Betza's profile image
Ken Betza's profile image
Ken Betza
Pro Member
  • Rental Property Investor
  • from Fairfield, CT
  • Member since May 22, 2015
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Ken Betza's profile image
Ken Betza's profile image
Ken Betza
Pro Member
  • Rental Property Investor
  • from Fairfield, CT
  • Member since May 22, 2015
Connect
Ken Betza
Pro Member
  • Rental Property Investor
  • Fairfield, CT
2
Votes |
22
Posts
General Real Estate Investing

Preforecloser Negotiating Advise

Ken Betza
Pro Member
  • Rental Property Investor
  • Fairfield, CT
Posted

Need some Pre-foreclosure negotiating help.   I have a client that the bank if foreclosing on in Oct.   I've never negotiated such a deal so I'm seeking any advise.  Still need to verify other details, but what I know is this:

- Client has declared bankruptcy

- Client has a Mechanics lien on house for 16k

- Client owes bank 900k, and house (not yet verified thoroughly) is appraised at 550k

- The appraisal is before client leaves house, which will have some further damage to it

  • Ken Betza
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