I have a mortgage on a rental property that went into default over 1 year ago. A combination of county and state tax increase made it upside down. $85K is the balance.
It was listed for short sale about 10 months ago. They've rejected 2 offers (I suspect they were too low)
I think the lender is willing to accept a SS offer for about 50% of what is owed. At this point, I'd love to save it from foreclosure but I don't have the cash to purchase it and I don't know anyone who can buy it or lend the money. I'd happily accept a new note on it from an investor.
Is there ANY WAY I can do this and avoid the foreclosure. I'm afraid that time has almost ran out. Any help will be highly appreciated.