Cancel The Listing?
The seller is 3 months behind ($4500) on mtg. The bal is $163K including back pmt; house listed for a month at$181K. There is no equity even if she gets a full offer! She agreed to go ahead with the SS. Do I ask her to cancel the listing? SS is never guaranteed; so how do you proceed?
Most first position lenders asked to consider an application for preforeclosure short sale require the property be listed for sale with a licensed broker, and a complete MLS history before it will approve a short sale request.