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.
1 Answer from Attorneys
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?
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