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Updated over 11 years ago on . Most recent reply

User Stats

18
Posts
2
Votes
James Smith Moore
  • Houston, TX
2
Votes |
18
Posts

Opportunity - Upside Down Property what to do with it?

James Smith Moore
  • Houston, TX
Posted

Hey everyone,

I'm a realtor in Metro Detroit and I have a client who is looking to sell her Detroit home in decent neighborhood. The home is upside down owes $54k on it, it's probably worth about $30k. The home does have a section 8 elderly tenant in the home who has been paying for rent for 20 years.

Any ideas on what I can do here, it would be nice to take it off her hands maybe assume the note?

Any thoughts and ideas are greatly appreciated.

Thanks!

James

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