What would you do? Owes $96K It's worth $53K.

[Sam Williams]

I met a sweet little 87 year old woman today in her apartment. She owns a beat up house in Largo, FL. Somehow she owes Wells Fargo $96K (HELOC?) but the tax office says it's worth $53K. It probably needs $30K in repair. The neighborhood is not too bad although it does have some rough spots pretty close by. She's living on a few hundred dollars a month. I'd like to help her and she wants to work with me but I wanted to see if my ideas would hold water with you guys.

Would you go to Wells Fargo and explain that they'll probably never get their money then offer to pay them $26,500?  $53,000?  Or walk away because a short sale is a lot of work?

I do wholesales not buy and holdls.

Thanks,

Sam Williams