I just had Chase decline a short sale of mine citing one of the reasons being that the borrower was not currently behind on payments.
My question is; moving forward with a deed-in-lieu, wouldn't this same issue of not being in default be a denial factor for a DIL?
Why are they moving forward with a DIL? I'd question the negotiator further. Very often, proving imminent default will be satisfactory to the investor, even though the seller is not yet behind. Ask.