Legal Question in Real Estate Law in Michigan

Re: Short Sale to My wife

I most of the transactions for short sale that I have worked in our office related/family parties have not been allowed to purchase the home. Also exempted are often employees of the lender or servicer of the note as well. Should you have additional questions please feel free to visit www.SevickLaw.com.

Re: Short Sale to My wife

No - it needs to be someone "unrelated." Also, note that several lenders are reporting "short sales" negatively on your credit report, similar to a foreclosure, although they do not always tell you that up front. It all depends on your lender, and the rules in effect at the time of the transaction or sale. Just wanted to give you this tip.

If you need a lawyer to assist you, or a loan officer who is very experienced with short sales, please contact me.

Thanks.