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Updated about 8 years ago, 12/09/2016

User Stats

45
Posts
11
Votes
Rahdia Green
  • Wholesaler
  • Gaithersburg, MD
11
Votes |
45
Posts

Anything I can do with this deal?

Rahdia Green
  • Wholesaler
  • Gaithersburg, MD
Posted

I'm a wholesaler but want to get deeper into this situation before passing along to a buyer: 

Mom died June 2012 (last payment made). daughter is the heir. Records don't show foreclosure so "mom's" name is still on deed. Upside down Mortgage. They tried short sale with agent but didn't work out (for said reason). Vacant.

Capitol Heights (PG county) 

ARV: $159k (Zillow says 201k)

(Seller WILLING to sale): $35k

Repairs: unknown at the moment (suspected 60k) 

Mortgage: 1,370/mo

Owes bank: $105,951 as of (6/2012)

With the numbers above, is there any real estate solution that will help this circumstance? As said, she already tried short sale.. Not sure what happened during the process but she is seeking help elsewhere other than agent. If there is anything I missed to conclude this situation please let me know. I would very well appreciate insight! Thanks.

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