Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Preforeclosure Lead - Options? Walk away?
Hello BP,
We've door knocked on a VA loan that was in pre foreclosure but the numbers are way off. Auction is next month.
What are our options to help this vet? Maybe just advice to him...
Mortgage amount: 229k
Reinstatement Balance: 23k
Escrow: 7k
ARV: 241k
This years tax appraisal has the house at 252k. But it is not in an appreciating area.
He's getting divorced and having some bad times. Any helpful guidance on how we can direct him vs eat the foreclosure?
Thanks!
--Michael Morrow