I have a homeowner that is upside down in there mortgage, and I want to help them by assigning a contract to an investor.
well of course the investor is going to want to buy the house as far under FMV as possible, and they owe more on there loan than what the property is worth.
in this case a short sale would be needed correct?
And if so does the seller need to submit a short sale submission package, and when do I as a investor wait to make an offer?
is there any other way to pass this property off to an investor, and if the short sale is the only way to go is there anything else needed by me as the investor in helping this person get this heavy burden off there shoulders?