TPS - Short Sale Processing Blog

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We've found in certain circumstances that it is wise for Brokers and their Agents to pass on a listing opportunity when the sale would require a short payoff. Here are a few: 1. 30 days or less until the Trustee Sale Date. 2. Seller(s) have not filed their tax returns 3. Junior lien is a recourse loan with a different bank than the senior lien holder 4. Seller cannot demonstrate financial hardship 5. Seller is in bankruptsy These and other reasons could proclude your listing from closing, so be selective.



I've spoken with multiple homeowners with horror stories regarding their treatment by the bank, while trying to avoid an oncoming train reck regarding their mortgage.  Many people have been told that they need to be late on their mortgage for banks to consider either a loan modification or short...

Julie Fontaine

local_phone(760) 512-0438
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5 Circumstances Where Brokers and Agents Should Not Take A Short Sale Listing