All Forum Posts by: David C.

thank you Upen

thanks James.  Wouldn't a short sale damage his credit?

Hello BP,

I am not sure if this is the right forum but I am hoping someone can help. 

A friend of mine is stuck. He owns a two family property that he bought as a house hack back before the crash. He has since moved out and rents both units but he is both upside down on the value, and market rents in the area aren't enough to cover the mortgage so he pays the difference. He doesn't want to foreclose and ruin his credit, and he can't refinance. My question is, has this happened to anyone else? And is there any reasonable and safe way to fix the situation? He makes a reasonable salary so he never qualifies for any of the govt programs...

Any suggestions would be greatly appreciated. 

Thank you

Hello Everyone, 

I am a newer member on BP but really love the site and the podcasts. I am in MA and primarily focusing on wholesaling right now but plan to grow into rehabbing as well as buy and hold. Anybody interested in connecting feel free to message me. I am always looking to meet new people, and about talk real estate investing. 

Thank you,

Dave