Posted by TSSP on March 10, 2006 at 06:58:14:
“The lender will not do anything until it’s out of the bk.”
That should be the correct answer. Why? Because the automatic stay of bankruptcy temporarily suspends collection activity. Negotiating a short sale is a form of collection activity. However, many lenders’ servicing clerks ignore Federal law.
Short sale while Seller in BR 13 - Posted by Natalie-VA
Posted by Natalie-VA on March 09, 2006 at 16:04:57:
Hi Everyone,
Just wondering if anyone has worked a short sale while the Seller is in a chapter 13. I’m looking at one with a 1st, 2nd and 3rd on it.
I know we need approval from the BR court. I was just wondering if the lenders are more or less likely to short when the borrower is in a 13.
Thanks.
–Natalie
need trustee approval - Posted by lukeNC
Posted by lukeNC on March 09, 2006 at 20:00:13:
call up the trustee and get them on your side, then call the lenders…they’ll work with you…
Re: Short sale while Seller in BR 13 - Posted by Amy
Posted by Amy on March 09, 2006 at 16:12:34:
The lender will not do anything until it’s out of the bk.