Legal Question in Real Estate Law in Maryland

Is there anything that can be done to stop a short sale in my neighborhood or recover the loss that we will see in lieu of the sale? Homes have sold, in the last 6 months, for as much as 243K. The lender that currently holds the mortgage, for the house in questions, is dumping this property for 210K. We dont live in a distressed area, in fact we have seen a recovery over the past 12 months. Is there anything that can be done to stop this sale or recover the loss from the lender in question?


Asked on 8/13/12, 6:47 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

No, you have no right to interfere with the right of another property owner to sell their property. Unfortunately in this period of loss of home values over the past few years, many people who purchased at inflated prices without adequate down payments are in that situation. The owner isn't going to walk away with anything other than relief from the debt, so their motive is to offer a price which brings about a quick sale.

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Answered on 8/14/12, 6:28 am


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