Nope! They want you to miss 2 payments; otherwise, why should they consider a short sale when the homeowners are current on their payment? . I'd be curious to hear comments from others.
I was afraid of that answer. My seller is being transferred to another state. He is the bread winner his wife does not work. Currently they can afford to make their payment.
I had a short sale two years ago where GMAC allowed my seller to remain current on their loan in a similar situation, I was hoping Citi bank would be the same.
Thank you for your reply Celeste ODea.
Hi Laura. If it's Fannie or Freddie then they do not have to miss payments to do a short sale if they meet one of the qualified hardships. Job relocation so one of them. A brief summary is attached. I would list and sell this short sale with no problem.
Even of it's not Fannie or Freddie I'd list it. Unless your sellers want to become absentee landlords then what other option do they have?
I've completed several short sales where the sellers were current.
Bryant, thank you so much for the attachment and feedback, I really appreciate it :) I love this website!!!
See my response to Laura. I personally never ask or require borrowers to be delinquent. They can make that decision IF the lender comes back and requires it.
Yes many times with Citi. Probably depends on the investor. Who is the investor?
I just sent in my authorization form yesterday, is there another way to find out who the investor is besides hearing it from the bank?
Thank you so much for your reply Jeff!
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