owner is current in their payments

Will Suntrust accept a short sale when the owner is current in their payments, but, running into financial hardship?

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Permalink Reply by Bob Wienk on March 25, 2010 at 4:44pm

I closed a sale a month ago with SunTrust and the borrowers never missed a payment! Not only that, but the borrowers had already been granted a loan modification by SunTrust. Don't let the lenders BS you by saying that a borrower must be in default before they will consider a short sale!

See the attached. Even the FHA acknowledges that a borrower need not, as a matter of fact, SHOULD NOT be late on payments in order to do a short sale!

Attachments:

New FHA rules on buying after a short sale.pdf, 50 KB

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