[CLBS] Underwater

[Patricia Evans]

Have a guy that has a lien against his residence/business (same location).  Bank loaned 70,000.00 originally.  The bank just kept loaning on the building appraised at $118,000.00.  There is now $285,000.00 owed against the note that is worth $118,000.00.  Bank said they would accept $80,000.00 lump sum which the debtor can not do. I have never stripped a lien.  Is this possible in this situation.  Thanks, Trish

Patricia Evans
Attorney at Law
POB 1016
155 Main Street Suite #2
Orofino Idaho 83544
(208) 791-6794