This One For Shortsalepro
What do you do in a case where the short sale is current, but are going to be in trouble soon by not making payments, do you wait? Thanks in advance for the assistance.
What do you do in a case where the short sale is current, but are going to be in trouble soon by not making payments, do you wait? Thanks in advance for the assistance.
You are saying that the loan you wish to short is current? Since shorts are predicated upon Borrower's hardship, you'll have to lay the properr foundation, adding another hurdle to the already complex process. The servicer must be made aware of the pending problem and foreseeable default.
Proof? You'll need a death certificate, medical prognosis, layoff notice, or some such documents that are irrefutable.
Thank you that is what I thought. One more question, One of my clients has inherited a property from their relative who has recently deceased, and they want to do a short. Any suggestions to expedite this process, will the lender, (fairbanks) consider doing this? Thanks again for all your help, I have all your books, tapes, they are great. I have been doing short sales at a 44% success rate thanks to you! :