Possible Short Sale?
I work with a guy who walked away from his home about three years ago and his bank foreclosed on him. The bank (Wachovia) is constantly sending him letters wanting him to resume his mortgage with them but he is firmly opposed to going back to his old house. He is still listed as the owner according to the tax office. I was wondering if this home would be a possible short sale candidate and if not, what might be a creative solution for acquiring it a deep discount? Any help is greatly appreciated.