An abrupt Decline after waiting 70 Days
What are some of the common reasons that a Seller would be denied the ability to perform a Short Sale. My Wife and I, had been waiting for 70 Days and just got this response on Friday. I was less than excited about the news and called the Bank. I found a young lady who was kind enough to review the file. She let me know that we were not the issue with the abrupt decline. The issue was on the sellers side. Shouldn't the sellers know whether their situation qualifies or not.
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Permalink Reply by Esther M. Camarotte on
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As I had noted above as you can see it is financial. In order to do a short sale it usually needs to be a hardship. So whatever is in what they completed it is saying to the bank "we make enough money" if there is hardship or maybe something from the divorce attorney can help. And the answer to stop paying the mortgage the answer is no as then their credit will be severely impacted. Not all short sales require a late payment.
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