Can you do a short sale on investment property?
I am upside down in a 6-unit investment property in Illinois that is not cash flowing. I have carried the mortgage and expenses for some time now but can no longer afford to do so. I understand the short sale process for homeowners, but my property is purely investment (or so I though) and not owner occupied. Has anyone had experience with this? Any help would be greatly appreciated. Thanks.
More then likely no, it is in the banks best interest to foreclose.
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