Need help with short sale please!!! - Posted by seanp

import · October 15, 2003, 8:05pm

Posted by rm on October 16, 2003 at 08:04:20:

If the seller had QC’d recently, it could create a title seasoning problem for you when you/your buyer get the loan.

import · October 15, 2003, 8:05pm

Posted by seanp on October 15, 2003 at 20:05:54:

I negotiated a shortsale payoff, but I discovered that the owner quitclaim the deed to his exwife in 1998 and she quitclaimed the property to another person who is now in the property on a lease option.

My question is will the lender have a problem with the fact that the mortgager is not on title and that the person that is on title is willing to go forward with the deal. If so, what else can I do???

import · October 15, 2003, 9:08pm

Re: Need help with short sale please!!! - Posted by chris

Posted by chris on October 15, 2003 at 21:08:30:

It doesn’t matter as long as the person on the title is willing to do the deal.

import · October 15, 2003, 11:51pm

Re: Need help with short sale please!!! - Posted by M Lee

Posted by M Lee on October 15, 2003 at 23:51:00:

Just for clairification,

So this sounds like it would be best in all of your short sales, to have the seller quit claimed or deeded off the title, so they won’t even need to show up at closing, and you won’t have any trouble getting them to closing.

Thanks for your fast response.

M Lee