Doc Hamm
  • Wilmington, NC
  • United States
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Advice needed

Started this discussion. Last reply by Doc Hamm Feb 1, 2010. 1 Reply

I am selling a house to a client here in NC.  As soon as they close, they intend to attempt a short sale on a lot they own in Florida that they bought with a BOA mortgage.   They can't afford the new…Continue

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Advice needed

Posted on February 1, 2010 at 11:58pm 3 Comments

I am selling a house to a client here in NC. As soon as they close, they intend to attempt a short sale on a lot they own in Florida that they bought with a BOA mortgage.







They can't afford the new house payment and the lot payment. They owe approx. $200K (paid $55K down) and similar lots nearby are selling for $75-80K on short sales.







The question is: If they find a buyer, and a discounted price is accepted by BOA, will they be subject to a… Continue

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