Posted on: 14th Aug, 2009 02:06 pm
Sir,
Getting killed with an upside down condo (investment prop). Paid $250k, owe $220. Bank AGREES to short sale. Property sells for $75k (in two weeks) Approx.$150k deficiency.
Bank stalls on appraisal almost 6mo. (Property value goes up approx. 40%) Why is the bank stalling?? Realtor/short sale specialist just shrugging his shoulders. What is the best avenue for us to take at this point? Why shouldn't we reclaim the property, then resell it?
Getting killed with an upside down condo (investment prop). Paid $250k, owe $220. Bank AGREES to short sale. Property sells for $75k (in two weeks) Approx.$150k deficiency.
Bank stalls on appraisal almost 6mo. (Property value goes up approx. 40%) Why is the bank stalling?? Realtor/short sale specialist just shrugging his shoulders. What is the best avenue for us to take at this point? Why shouldn't we reclaim the property, then resell it?
jmicc
You are saying that the property was already sold and are now upset that the property value has gone up.
If the property was sold in short sale how can the bank still ahev the property
Your question is really confusing?
Good luck and feel free to ask
You are saying that the property was already sold and are now upset that the property value has gone up.
If the property was sold in short sale how can the bank still ahev the property
Your question is really confusing?
Good luck and feel free to ask