What can i do with this?
SO here is the scenario. My parents have a house they've been buying since 1970. In 2002 or 2003 they filed chapter 7 bankruptcy and where able to keep the house so long as they continued to make payments and kept insurance on the property. They are usually 2 months behind on payments and the mortgage company is now demanding $1900 by December 2 which they don't have. What can I do as a wholesaler to help? Here is a rough run down of the numbers
House is assessed at $101,500
Similar homes around $115k to $120k
Balance is $58k
Repairs are around $15k to $20k
also, for you pros out there... its a ranch style house with 1013 finished sq. ft. unfinished basement(about 1000sq ft) 3bd 2 ba. 10000sq ft lot. no decks or garage. 10' x 20' storage building in Lynchburg Va 24501.