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Updated over 3 years ago,

Melanie Smith's profile image
Melanie Smith's profile image
Melanie Smith
  • Member since Sep 10, 2021
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Melanie Smith's profile image
Melanie Smith's profile image
Melanie Smith
  • Member since Sep 10, 2021
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Melanie Smith
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Wholesaling

I need help understanding this negative equity.

Melanie Smith
Posted

There is a single family residence home where the seller wants $82K (I believe he dropped it down $22K)He paid cash for it in 2015 for $34,500. I see there is a commercial loan for $200,850 but the property has a negative equity balance of -$24,225. Would someone please help me understand this?

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