hm in foreclosure- bank bal &judgements exceed value of home

Posted by Amy S on February 18, 2003 at 23:09:40:

My rental property has a balance with the bank of 80K. It is in foreclosure and they want $16K NOW. I have a 13K tax lien and a 53K judgement on the property. The house is worth 100K. I can't give a buyer a clear title because the income from the sale exceeds the liens/judgements. I don't want the house. I just want out. But I don't want the foreclosure on my credit either. Can you do a short sale on a house that has other judgements/liens? The bank wants 16K NOW! My credit is poor. I want out. Help! :-(

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: My rental property has a balance with the bank of 80K. It is in foreclosure and they want $16K NOW. I have a 13K tax lien and a 53K judgement on the property. The house is worth 100K. I can't give a buyer a clear title because the income from the sale exceeds the liens/judgements. I don't want the house. I just want out. But I don't want the foreclosure on my credit either. Can you do a short sale on a house that has other judgements/liens? The bank wants 16K NOW! My credit is poor. I want out. Help! :-( 


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