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  • Previous SunTrust Negotiatior May 20, 2011 at 5:19pm
    This was not denied because it was a portfolio loan. In most cases, it would be denied because they did not prove a true hardship or it was a strategic default. If it is a portfolio they want it off the books. I would recommend ontaining a credit report for all borrowers you are doing short sales with. It is important to understand the hardship and if any assets were disclosed on the 1003
  • TL May 20, 2011 at 12:09pm
    That was the language.  But now talking again.
  • Smitty May 20, 2011 at 10:06am
    Are you sure it was a denial soley because an investor owned the property?  I agree with jeff, maybe there was no hardship present.  I actually think it's discrimanatory if they deny a short sale because it was an investment property.  I'm no lawyer but can't understand why a second home should be treated differently, other than a waiver of deficiency and tax ramifications.
  • Jeff Payne May 20, 2011 at 6:46am
    Does not make much sense unless the seller is not in a hardship.  Might be an isolated incident
  • TL May 20, 2011 at 6:34am
    Regular loan. 
  • Jeff Payne May 20, 2011 at 4:23am
    Nope, never heard of it.  What type of a loan do you have?  US Bank seems to deal in govt loans in my area, USDA, VA, FHA and FLorida Bond Loans. 
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