Hi, there are 3 deals that are ready to close, but the 2nd's are asking for 50% of the loan balance, and I just do not know what to do:

1) Realtime Resolutions: they have a balance of 140K, and are asking for 80,000 as a payoff. The 1st (B of A) has allotted them $6,000.

ANY ADVICE ON WHAT TO DO?

2) Strategic Recovery Group: they have a balance of 120K, and are asking for a $60,000 payoff.

3) Indymac: They are doing a BPO (Why…

Many short sales are lost, and fall out because banks (such as 1st mortgage) have such strict requirements that it becomes nearly impossible to satisfy these ridiculous requirements.

What really buggs me is that many of these requirements (RMA form) are Loan mod forms and make absolutely no impact on the short sale. Why do the banks require these ridiculous forms to be filled out? Who cares how many previous marriages the seller had? Why do these forms have to be filled out…