Short Sales on Home Refinanced after 1/09/2009?

A possible short sale client said that her mortgage lender (Bank of America) said they are not eligible for a short sale because they refinanced on their home after 1/09/2009 and their their only options are a deed-in-lieu or foreclosure.

Is this correct? If so is there any way to still do a short sale in this situation? They had a conventional loan and the 2nd is with Sun Trust.

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Permalink Reply by Sheryl Potts on April 14, 2012 at 3:13pm

Do these programs generally include debt forgiveness on primary residences? My customer lives in a deficiency state (Florida) and they bought their home after Jan 1,2009.

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Permalink Reply by Kevin - Greenville, SC on April 14, 2012 at 4:41pm

http://www.irs.gov/individuals/article/0,,id=179414,00.html

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