Assets

[Maryann L.]

We got an auction postponed this week and now Indy Mac wants thier forms filled out..which is pretty much what we already sent in but a little more detailed.

My homeowner has a second house that they are moving into. They owe 360,000 on the other house that is worth 300,000. How should they list this on the financials? If they have another asset how will it affect their current short sale?

Also, the homeowner lost her job. (reason she's losing house) - she was the only one on the note and on the deed. Does Indy need her husband's financials?

[Jon Holdman]

Aren't they also asking for liabilities? That other house would show as a $300K asset but there would be a $360 liability against it.