RE: Banks can't do any of what you are suggesting in a short sale. The sittiuaon for banks is worse by the day. They don't own the loan. Banks don't have anything to say about anything. In my opinion the whole short sale mess will need to be swept under a rug at some point. I still don't get the idea that so many people have medical, or hardship cases that would qualify them for a short sale. I also don't get why a seller is off the hook for the deficiency. Actually the whole process, and the NWMLS involvement in the process makes no sense what so ever. What will the stock holder meeting look like? Does a short sale actually eliminate the second? How do the second position stock holders feel about that.Foreclosure is the remedy in the Note. I haven't been able to see how this short sale process has circumvented that except as a preferred remedy to the bank. Rate this comment: 0 0

by Jessy 07:13:43 AM 2012.12.09