My first SS with Fifth Third. Got Approval Agreement. They want seller to sign note of some $48K for balance. Home is in very distressed area and got good price of 38K. These seller's have no ability to pay this, anybody have any ideas?
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Is this the borrowers primary residence, can the file be placed through HAFA? Are there any means to negotiate to try to have the deficiency waived?
www.ishortsalenow.com
310-564-6389
Brett@ishortsalenow.com
Hi Brett, Thanks for answering. One seller only was living there due to divorce. The home is secured and vacant now as this seller has moved to a more safe area. I just found out all during the marketing period and negotiation period the one seller who was residing in the home continued to pay the taxes on the home as they were not levied in with the payments. I am trying to negotiate a wavier of deficiency but so far 5/3 says no sign the note.
Can you get this into HAFA somehow and have the file re reviewed? Can you settle the note prior to closing with a contribution?
Hope everything works out for you and your client and please reach out to me anytime.