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Updated about 11 years ago,

User Stats

12
Posts
2
Votes
Dave Stinnett
  • Lynchburg, VA
2
Votes |
12
Posts

What can i do with this?

Dave Stinnett
  • Lynchburg, VA
Posted

SO here is the scenario. My parents have a house they've been buying since 1970. In 2002 or 2003 they filed chapter 7 bankruptcy and where able to keep the house so long as they continued to make payments and kept insurance on the property. They are usually 2 months behind on payments and the mortgage company is now demanding $1900 by December 2 which they don't have. What can I do as a wholesaler to help? Here is a rough run down of the numbers

House is assessed at $101,500

Similar homes around $115k to $120k

Balance is $58k

Repairs are around $15k to $20k

also, for you pros out there... its a ranch style house with 1013 finished sq. ft. unfinished basement(about 1000sq ft) 3bd 2 ba. 10000sq ft lot. no decks or garage. 10' x 20' storage building in Lynchburg Va 24501.

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