I have two sellers who want to do a short sale. They are on title through a quit claim deed, but they are not on the loan. One has full power of attorney, but neither of the borrowers can be located.
When looking the financials for short sale consideration, will the bank accept the homeowner’s financial statements or would they insist that the actual borrower submit their information? Thanks for your help! :help
Actual borrower and most likely they now wont consider the SS as one of the requirements on an approval letter is that the property must not have been transferred away from the borrower…
Furthermore you cant speak to the lender and process the short without the authorization from the borrower and not certain they will accept the POA.
On the hard to do SS deals just kick them and move on to others… After all there are a ton of them to do…
Happy house hunting
Michael
Thanks for your reply Michael. I appreciate it! Any other opinions out there?