Dan Green
NeeI have a motivated seller and don't know what to do.
Hey BP family I could use some advice. I'm a whole sealer here in Tampa and St. Petersburg Florida. I've got a call today from a seller that owns about 20 water lots off of a bay. All of the lots are under water. Is t...
Chris Kendrick
Cheapest mortgage loan
Would doing an interest only mortgage be the cheapest for lowest monthly payments, i want to get the most cash flow as possible, is the interest rate on that higher or maybe doing like a 5 percent 5/1 arm be better o...
Rebecca Ramos
A Chicago Underwater Home Question for Lenders
Hi BP Pros, I have a family member in Chicago who's home currently is in an underwater status. He has 17 and a half years left on his mortgage and paying 4% interest on a 30 year loan. His original mortgage is $118,50...
Josue Caliz
Head under water in Greater New Haven
Hello BP, as a young investor with little experience these days it seems I only have questions. Today my question has to do specifically with short sale.I have an opportunity to capitalize on an amazing duplex with so...
Andre S Walters
Finding Houses Under Water (Foreclosure, SS, etc)
Hey Guys,I'm still a newbie to the real estate business, but I do have a quick question...I went driving for dollars today and I created a list of 37 potential properties in just under 2 hours worth of driving...My qu...
Jeff G.
Seller Underwater, No-Rentals Clause in Mortgage
Hello BP family,I'm working with a seller who is in a tough spot. He has a tiny (sub 700 sq ft) two bedroom that he's underwater on. He's motivated as all heck because he's relocating to another state. I ran a subject...
Luna B.
Underwater Rental property in California...exit strategy?
I bought a rental property in Clearlake Ca in 2004 for about $125,000 ( A house and studio)I now owe $95,000 on a 1st at 6.25%. CitimortgageIf the house was all fixed up I might get the $95,000, but it is in need of ...
Rich Simpson
How to get out from underwater ethically?
I'm new here...Our house is underwater by more than $200k. There's no sign of it being anywhere near what we owe on it, let alone 20% over in order to refinance in 3 years. Yes, this was a 100% financed, 7 year lock...
Josh C.
Transferring an underwater property to an LLC
There is a property in NJ that is underwater and the note and title are in my friend's name... can she easily transfer these to an LLC? What is the process to do when a property is upside down?
Dean Letfus
Is there a solution for underwater houses?
I have seen several homes this week where sellers are all current on notes but house is slightly underwater. They don't want to short sale as it will affect their credit.
Is there any solution to this? Anyway to get ...