NEED HELP on QUOTE for deliquent 2nd

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Posted by Chefist on September 04, 2003 at 12:32:43:

HELP.....what should I shoot over for an offer on this deliquent second...NASTY DIVORCE!!!!

First mortgage good: $175,000 left to pay down

Second: $131,000 left to pay, 16 years left, 172 days deliquent, 8.75% interest

MARKET VALUE OF PROPERTY: $500,000

WHAT SHOULD I OFFER THE BANK?

THANKS

CHEFIST

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