Other Exit Strategies Besides Short Sale

[Cory Gardner]

I just got a call from a seller who is under the water on her mortgage and owes about 136K and properties are only going for about 105K in the area. She prefers not to do a short sale because she doesn't want her credit to be damaged but wants to get out of this property and into a better deal. Are there any other options for me as a wholesaler or is a short sale the only way I can help this homeowner and myself?

Thanks,

Cory

[Wayne Brooks]

If current FMV is 105k, the bank won't accept 65k, more like 90-95k. Short sales don't make the easiest flips. Send her to a good short sale agent, and the agent can help you in the future.