I'm considering the concept of trading my BOA loan on my existing house mortgage for a short sale that is also owned by BOA. My house owes $163k and is appraised at $191k, the short sale owned by BOA is $325k, but I can probably get it with a $300k bid. Am I crazy? Wouldn't BOA want to own a $163k house versus one appraised at $324k?
I have a home that I have paid on responsibly, only owe $163k on it. I've gotten a 6 figure job offer and need to move immediately to take the job. Will someone offer me a bridge loan, or type of strategy should I employ. I have a wife and a 4 year old too.