How Shoud I Precede?


[ Edited by keedaah on Date 12/16/2005 ]

[ Edited by keedaah on Date 12/16/2005 ]

Comments(9)

  • TheShortSalePro1st March, 2004

    " I want both banks to know that she is ultimately responsible for the payment. "

    While she may be obligated to Dad, she is not obligated to either mortgagee unless/until she is on the mortgage note.

    Dad and only Dad is on the hook. No need to involve/complicate matters with the Daughter's dilemma. She has no standing.

  • keedaah1st March, 2004

    [ Edited by keedaah on Date 12/16/2005 ]

  • TheShortSalePro1st March, 2004

    "I will, however, include in the hardship letter that he purchased the home for her."

    That, in my opinion, would be a mistake.

  • keedaah1st March, 2004

    [ Edited by keedaah on Date 12/16/2005 ]

  • bgrossnickle1st March, 2004

    Hardship letter shows a hardship that is beyond their control - illness, job loss, death, divorace, etc. Buying a house as a "gift" for someone that you or the receipiant can not afford to maintain is just a really bad financial decision.

  • keedaah1st March, 2004

    [ Edited by keedaah on Date 12/16/2005 ]

  • rjs93522nd March, 2004

    Another point to the hardship letter. From my understanding it's generally better for the homeowner to write it, not the investor.

    Just a thought.

    Ryan J. Schnabel

  • bgrossnickle2nd March, 2004

    Just pick your best angle and go for it. Over analyzing causes paralysis. Just be sure to state that the father had a job loss, divorace, illness, etc. Since he is the one personally responsible.

    Brenda

  • keedaah2nd March, 2004

    [ Edited by keedaah on Date 12/16/2005 ]

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