is this worth a shortsale?
i know very little about shortsales. but i am wondering if this is worth pursuing. fyi i dont have much money. so how much money do i need ?
so i have a guy who really wants to get rid of his house because it is going underwater. he said he as 85k on his mortgage but comps run at 65k
hes been hanging onto it but owes more on mortage than house is worth
hes sole owner
2 bed
1.5 bath
900 sq ft
private septic
public water
no liens
Lot: 4,792 sqft
Single Family
Built in 1945
Heating: Forced air
Last sold: Sep 2005 for $105,000
i dont know what to do from here but i will figure it out. is short saling risky? do i need a lot of money? any other advice