(The bank won't
approve a short sale because I'm not in a financial hardship; I can afford the mortgage, it just seems foolish to pay that much to protect my credit.)
Not exact matches
Ariana — just
because the
short sale was
approved before does not mean that BOA is going to immediately turn around and give you an answer.
However, the second lender has a lot of bargaining power,
because they can stop the whole process by refusing to
approve the
short sale.
I wanted to mention that,
because I think I read somewhere that banks will not consider
short sales on rentals... as far as I know, mine has been
approved and things are moving forward.
That's
because the
short sale bank will need to
approve the closing cost credit.
A
short sale must be
approved by the seller's lender (mortgage holder)
because the lender is often agreeing to accept less than what is owed.
Ariana — just
because the
short sale was
approved before does not mean that BOA is going to immediately turn around and give you an answer.