If anybody can help I would REALLY appreciate it. - Mon Nov 3 2008, 15:49
Also, is it possible to purchase this property from the bank at a lower cost? Would we still be able to live in the unit until that time? - Tue Sep 30 2008, 14:57
Can you be a bit more specific on this?
Purchase/Refi? - 1st home purchase of about $850-900K
Down Payment Amount? - 10% (although we can probably borrow another 10% from our families)
Credit Score? - 760 - Thu Sep 11 2008, 13:38
Can you give me some more advice? What is a good offer? The amount he is in default is about $655K. I called his bank and they said they wouldn't consider a transfer/assumption without his loan being brought current.
You mentioned a short sale with the lender. What does that entail?
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.