Short sale deals? Please help
I think I have the ability to do two short sale deals this week. One the lady has filed bankruptcy on the property, and her name is not on title, In this case do I contact the bank or do I still need her for the authorization of release of mortgage information? The second is a friend of mine who is still on title but has been out of the house for about a year. I need her for the authorization of release correct?
I'm on my first short deal right now -- but my impression is that the bank can't release any information to you about the existing mortgages you want to short if you don't have an authorization from the person on the mortgage (not necessarily the person on the deed it sounds like in your case).
have you talked to the owner?
I have not talked to the owner in the bankruptcy because I was not sure who to contact, and the friend of mine I plan on talking to no later then wednesday.
Just a suggestion. When you are posting about more than one potential deal, how about, in an effort to keep things straight, posting them individually?
What are the elements of the deal(s)? What conditions exist that you feel warrant a short sale?