Okay, back again... Wondering if there's anything to consider or a reason this might muck things up with BoA, we're coming up on the closing date that the buyer had originally requested which was over 60 days out when they submitted their offer, but because we weren't yet 30 days delinquent our short sale was rejected and we're having to resubmit after we are 30 days delinquent. I'm wondering if there might be a way of renting to the buyer so they can move in ahead of closing...
We're having to move out on schedule because our son needs to start preschool with the school system we're moving to so they can assess whether he's ready for kindergarten in the fall, so otherwise the home would be vacant. As far as the closing date being in jeopardy, the buyer sounds like they're more concerned about having a place to move into than losing the tax credit.
So, I'm wondering if there's something about doing this which might mess things up... Would the rent income mess up the hardship case? I'm supposed to be becoming delinquent in order to qualify for a short sale, and with the drop in prices in the area the offer as close to what is owed as it's going to get, which is close but still less - no sale is going to happen without a short sale.
Or could that possibly be mitigated by holding the rent in escrow that would be paid towards seller's closing costs or something?
I tried searching around for anything about this, but all I've been able to find is this:
http://activerain.com/blogsview/1207944/renting-a-short-sale-during...
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