Posted by NJD on November 17, 2006 at 13:46:45:
Before you provide a detailed short sale proposal to the lender, including and in particular financial info on the mortgagor… find out if the lender’s workout criteria includes preforeclosure short sale. If it does… and you prepare a factual, compelling proposal… your ss should be successful.
If it doesn’t, then seek a workout/reinstatement.
You don’t want to shoot yourself in the foot by prematurely advising the mortgagee its borrower is broke and can’t make payments.