I attempted one awhile back... a Client asked if I could help him sell a property via short sale... he owed about $250,000.
Turns out it was only worth about $100,000 and (my Client) was involved in an illegal flipping scheme.
Since there was origination fraud, and my Client really had no demonstrable hardship (other than being stupid) it didn't qualify as a short sale candidate.
I attempted one awhile back... a Client asked if I could help him sell a property via short sale... he owed about $250,000.
Turns out it was only worth about $100,000 and (my Client) was involved in an illegal flipping scheme.
Since there was origination fraud, and my Client really had no demonstrable hardship (other than being stupid) it didn't qualify as a short sale candidate.
We have. They're very tough. Almost no discount at all off of the BPO.