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Updated over 9 years ago,

User Stats

68
Posts
11
Votes
Tony Johnson
  • Professional
  • Houston, TX
11
Votes |
68
Posts

Help this Family of 8! Single Family Home Upside down.

Tony Johnson
  • Professional
  • Houston, TX
Posted

I stopped by one of the friendliest mothers I've ever met today and I really want to help her out. She responded to a bandit sign and here is here situation:

  • Loan Originated 2007
  • Loan Balance $100k
  • Interest Rate: 9%
  • Original Loan $106k
  • Appraisal Amount: $123k
  • Estimated Repairs: $15-20k
  • Monthly Payments: $1100
  • Est. Rent: $1500

Can I make a deal out of this? They have been late on payments since about May or so and have about $7k needed to bring the loan current.

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