Legal Question in Real Estate Law in Wisconsin

Short sale of house

Our house is listed for short sale.

Now the mortgage company is asking us to fax bank account statements for the last 3 months. Why? They already agree to a short sale. There is someone interested.


Asked on 3/26/09, 2:11 pm

1 Answer from Attorneys

James N. Graham Accession Law LLC

Re: Short sale of house

Presumably, the short sale lender is trying to determine what option provides them with the best likelihood of getting the highest amount of their money repaid. A short sale is at the discretion of the lender who must calculate whether to take a loss or to pursue the borrower for the contract amount (possibly including any deficiency). You indicate that "They already agree to a short sale." To what did the lender actually agree?

This is not intended to and does not provide legal advice. Rather, we only offer general feedback which may not be applicable depending upon the totality of the facts. Please contact us directly if you have specific questions or concerns. http://www.Grahamlaw.biz

Read more
Answered on 3/31/09, 1:36 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Wisconsin