Should I Beware Of This Short Sale Deal?
Question.... I have an investment property and am in default. Someone is offering do help me do a short sale. I have to sign a Warranty Deed to Trustee and he will put it in trust. Then he will deal with the mortgage company and agree on a price to settle. He will also put a defficiency clause on the contract so the mortgage co cannot go after me for the negative amount still owed.
Is this legite?
If the lender is owed $245,000 on a home worth $315,000... where is the risk, and why would the lender consider accepting a nickel less than its due?
"I need to respectfully disagree."
Disagree with what? I posed a question to the poster.