Indymac Short Sale BK Situation
Key Points
SS offer denied B/c after 15 day deadline
Client will file BK to get Foreclosure delayed
My Question is how do we go about resubmitting and usually how long does it take to start the SS review process. Thanks
I think this article encompasses the issue
http://bronchick.wordpress.com/2009/11/03/should-you-disclose-to-the-lender-on-short-sale-flips/
And were the buyers happy with that? Seems to me that the lawyer breached his duty to his client to complete a transaction they had already approved.
Still, a certain number of transactions in this business are going to fall through. This is why back-up buyers are important and necessary.