Update:

After a bleak outlook on the situation, rather than giving up -I decided to go back online and did some research.

Tax value: $273k
1st: 200k
2nd 93k

Zillow value: $350k.
Average Zillow accuracy margine: $40,000 (according to Zillow)

Average cost for a bank to foreclose in my area: $50,000
Minimum days to evict for a foreclosure in my area: 230
1700 SQ feet, 2 story split level.

Correct, the tax value is not the market value, but its a place to start.

Repairs needed: New flooring, Exterior paint, 2 large porches need to be replaced, Interior paint, landscaping, various doors and windows need to be replaced due to damage, holes in drywall, possible roof damage.


Cost to foreclose $50k
Repairs: 50k-100K ?
Payments they have received so far, since the chapter 7: $15k

I'm not saying that they will settle, but the numbers seem to be in my favor.


15 years ago, this is what the place looked like. Picture is to reference size, not condition.

Uh... How do I upload the picture, without using a link?

I tried following the instructions under FAQS, but it led to a dead end.

Has anyone here every dealt with anything like this? Anyone ever settled a debt of this nature?