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Forums » General Foreclosure & Pre-Foreclosure Forums » raw investment land short sale

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Tag Tags: short-sale raw-land personnaly-owned


Mike Freeland

Developer · phoenix, Arizona


Forum_avatar_avatar-walstreet

Icon_minipost Mar 11 '10, 12:14 AM

I have a paracel of property in the North phoenix area great area 5 1 acre parcels with water. I can no longer make the payments and it makes no sense as the property is worth 25% of what I bought it for. If I short sale the property can the bank come back on me personally for the difference? Property is titled in my wife and my name. :cry:

Edited: 06/26/2010 at 12:00PM


Jon Holdman

Real Estate Investor · Denver, Colorado


Forum_avatar_avatar-wheatie
ModeratorPro

Icon_minipost Mar 11 '10, 01:36 AM

Is the loan guaranteed by you or is it non-recourse commercial financing? Do you have assets and income?

Edited: 06/26/2010 at 12:00PM

Small_flying-phoenixJon Holdman, Flying Phoenix LLC


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