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Updated over 4 years ago on . Most recent reply
Creative options to help someone who owes too much
I connected with a seller the other day and can’t get helping him out of his house on my mind.. he is a retired firefighter and a great guy but is in a hole where we need to be around 85 and he owes 106. I’m a wholesaler with no backing to invest so I’m looking for the best way to simply navigate the solution. Help if possible.
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Bonnie Low
#1 Medium-Term Rentals Contributor
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#1 Medium-Term Rentals Contributor
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- Asheville, NC
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Bonnie Low
#1 Medium-Term Rentals Contributor
Pro Member
#1 Medium-Term Rentals Contributor
- Lender
- Asheville, NC
Sorry to answer a question with a question(s), but this needs a little more information. What are you basing your offer of $85k on? I'd start there. What are the comps for a similar home in the area? Is he underwater with the mortgage or does he just need more than you currently have a buyer for?