Is There A Way To Turn The Bank's "no" Into A "yes"
The seller I'm working with has been growing marijuana as his sole source of income. Therefore he has no pay stubs, tax returns, etc.
The bank says they will not consider a short sale unless this information is provided.
Because the house is in such a ruined state, I can't imagine that they would want to acquire this one at the auction.
Should I send my short sale proposal, emphasizing the detailed photojournal anyways, even though they say they won't review it without this information? And hope that it catches someone's eye and they go ahead with the short sale in spite of their "policy" ...
Or should I not waste my time?
I hate to give up at the first sign of resistance & would like to give it a shot.
Maybe I should just try to pick it up at the auction....but I would still be offering them (albeit cash) only about 10% of the principal balance.
Bear in mind that most prelim loss mit clerks can't move an application forward if its filled with gaping holes.
If there is no financial data available, try submitting an affidavit (notarized) that supports the fcat that there are no available records.
By affidavit you mean a statement made by a third party, right? Or can he write his own? (I know I should know this)
Actually, because his marijuana operation was shut down in March, he hasn't had any pay whatsoever. (He lives with his mother since then). Even if he had had a regular job he still may have not had income in the last two months.
An affidavit is a sworn and notarized statement. In this case, the Homeowner can swear that he has no income, doesn't file income taxes, has no job, etc.
If his CPA, Attorney, Bailbondsman, or Parole Officer care to make a statement, terrific.