1st lien with Wells Fargo - 1289000 will consider a reduction in pay off to 1200000.
2nd lien with Ditech - 70000 will consider a short pay off amount.
All title escrow and estimate closing fee 78000 estimate.
Lenders fee TBD.
Property was under bad management. Client lives in West Virginia and is retired. Filed a Chapter 11 at the advise of his.
Exiting strategy: Obtain new management, rewrite the loan after 12 month payment history to a longer term.
We need to obtain your best effort for my client. This is not a fix and flip only a rewrite of the loans of record. Client purchased property in 2008.
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