Short Sale Declined-No Hardship
We are the buyer in this short sale, and was advised that the short sale was declined due to the seller not having a hardship, this seller is being relocated, he is not in the military but is taking a military job, The relocation is out of state. This loan is Fannie Mae, and it was declined by Fannie Mae,
The guidelines are suppose to be changing effective 11/1/2012.
Should we resubmit 11/1/2012? Anyone having this same or related issue that could offer up any advice.
The Negotiator/Servicer was very puzzled why it was not approved.
Thanks for your advice/opinions etc.
Replies to This Discussion
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Permalink Reply by Jeff Payne on
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Perhaps they believe it was a voluntary move and not a forced move, I have had negotiators tell us that before.
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Permalink Reply by John P on
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Okay. I believe it is voluntary, he applied for a job, and its in another state, its not like military being restationed at another base. So do you even think its even worth resubmitting 11/1/2012? The Fannie Mae guidelines from what I am understanding is that the servicer will be able to negotiate and approve without Fannie Mae's stamp of approval.
We have been dealing with this going on 6 months, and just when we thought we were getting an approval last week it was declined, talk about irritating.
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John you ask great questions..... have you asked your agent these questions?
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