Legal Question in Real Estate Law in Arizona

Short sale in Arizona

I am in a short sale in Arizona where Countrywide is in 3rd position due to their own ineptitude (ex is in 1st and HELOC is in 2nd). I have an approved buyer whose offer is in line with appraisals. CW has ''closed'' the short sale after 4 months saying Fannie Mae rejected it b/c CW is in 3rd. FATCO screwed up as they did not do a title search. CW screwed up b/c they didn't record the deed for 7 months after my refi. What options do I have?


Asked on 5/08/09, 2:02 am

1 Answer from Attorneys
Brian Blum Blum Law Office, PLC

Re: Short sale in Arizona

1. Find a buyer with more money; or

2. Let it foreclose; or

3. File Chapter 13 bankruptcy, which can probably strip off the wholly unsecured liens and will let you catch up on past due payments.

Those are three options off the top of my head. I'd have to meet with you and get more details to really give you any advice.

Brain

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Answered on 5/08/09, 11:21 am


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