Most homeowners these days are able to stay in their homes for up to 2+ years without paying anything. If they have a great foreclosure defense attorney - they can even stay up to 5 years.
With that said, if a seller who’s been in foreclosure defense for 2+ years decides to do a short sale - would the bank be more susceptible to a quick short sale?
Anyone know if the foreclosure defense has any influence on the bank to get rid of the property via short sale - to avoid further legal expenses battling the foreclosure defense?
Long and short of it is really simple. It depends on how good of a Negotiator you are. If you negotiate like crap thats what you will end up with… CRAP. Then you have to look at which lender you are dealing with if they are a smaller lender the 2+ years might really upset them and they may just want to really slam them through Foreclosure. I have done Short Sales on properties that were 4+ years and they are about the same as a property that is 2+… A short sale is a short sale is a short sale. Now if we were talking about buying the note out we would probably be talking about a totally different situation all together, then you would get a larger discount…
Most banks are fighting back when a low life consumer want to ride the system when the consumer have a job and don’t want to pay because a shade tree lawyer told them they do not have to pay. We bought a home about 5 weeks ago in West Covina that the bank foreclosed on and the home owner been living there over 13 months did not want to leave so we got a court order within 48 after we bought the home and the marshals went with us and they set their things on the sidewalk. The sad thing the wife was arrested for damaging the bathroom in front of the marshals. And this lady is a doctor.
Well, I think it depends on your attorney on how will he defenses your the situation as to what documents can help you protect your goals and aim.