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Which lender is involved? Some will allow a new Buyer to be sustituted more readily than others. The important thing to remember is a short sale approval does NOT stop the foreclosure timeline here in Nevada anyway. Different banks handle things differently it seems. Biggest question I would suspect you declined State of Nevada mediation? It sounds like you have had a NOS set already?
What does an NOS mean?
Jeffrey Burnham said:Which lender is involved? Some will allow a new Buyer to be sustituted more readily than others. The important thing to remember is a short sale approval does NOT stop the foreclosure timeline here in Nevada anyway. Different banks handle things differently it seems. Biggest question I would suspect you declined State of Nevada mediation? It sounds like you have had a NOS set already?
Hi... do you have your home listed with a Shortsale realtor? You still have time to find a buyer and get a postponement of the foreclosure. You should really have a Shortsale specialist help you. If you haven't already, post here and I'll refer an agent for you in Las Vegas. Best of luck...
Trina Gonzales
Fontana, CA
Walter:
Are you a licensed agent or Realtor? Just asking since you're telling this desperate individual to commit fraud....
Walter Rock said:
Have a friend submit an offer on your property. Any offer should buy you some time. Sometimes you can submit an offer within 3-4 days of a foreclosure and stop the process, temporarily.
Vanessa,
Can you explain to me how that is fraud? I've never heard that it is illegal to sell your home to a friend? Are you a licensed Realtor?
Yes, Walter, I am a licensed Realtor in Georgia and you're absolutely correct in that it is not illegal to sell a home to a friend. The fraud element comes into play when you knowingly and willingly submit a "dummy" offer to a lender in order to postpone a foreclosure. It's a totally different scenario in which you submit a good faith offer from a willing and able purchaser who happens to be your friend than it is to simply write up an offer from someone who has no intention whatsoever in purchasing a property. It's also very unethical....which is why I asked if you were a Realtor.
Furthermore...here's the link to fraud
1) Buyer misrepresents himself on the offer as he's really not willing to purchase the property
2) Seller and agent are aware that the buyer is really not willing to purchase the property
3) Seller and agent sign the document in which all three parties are now aware of the misrepresentation (now a conspiracy)
4) Now the document (that is a complete misrepresentation) is submitted to the seller's mortgage company. Yes, the same one in which the seller has previously agreed to not submit misrepresented documents or information (material facts)
5) All parties have just committed fraud
Vanessa Calhoun said:
Yes, Walter, I am a licensed Realtor in Georgia and you're absolutely correct in that it is not illegal to sell a home to a friend. The fraud element comes into play when you knowingly and willingly submit a "dummy" offer to a lender in order to postpone a foreclosure. It's a totally different scenario in which you submit a good faith offer from a willing and able purchaser who happens to be your friend than it is to simply write up an offer from someone who has no intention whatsoever in purchasing a property. It's also very unethical....which is why I asked if you were a Realtor.
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