Seller transferred
Any experience with a seller that was transferred (a seller that has a job !) out of State and purchases a home in the new location. Does Chase have a problem granting a short sale on the old home in area that is still underwater???? I have seen where some lenders ask if the seller has purchase another home in the last 6 months.
Replies to This Discussion
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Permalink Reply by Tammy Davis on
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This definitely sounds like a hardship to me. I have had a few short sales go thru recently where the borrower had already bought another residence (and it was disclosed on the financial information) but the short sales were approved with no questions asked.
Lenders seem to be easing up on their "buy and bail" concerns...or maybe I have just been extremely lucky. Either way I have had some very happy clients!
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Permalink Reply by Ken Bailey on
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Shouldn't be a problem Sharon. We see this same hardship all the time and haven't had an issue. Good luck!
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Permalink Reply by Sharon L. Ellsworth on
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Thanks for the encouraging words! The clients haven't closed on the purchase in the other City yet, but someone has told them not to even list the short sale until they have closed. Fortunatly they have tenants in the house they need to short sale who may be interested in buying the house.
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