Owner Wants Out...
I have authorization to release form signed and the seller wants to vacate the property immediately. She has found an apartment and wants to move in next week.
This will be my 2nd Short Sale ( the first is still pending).. so forgive my ignorance, but.... If she no longer lives at the residence will this cause any propblems with the SS process? Or should I advise her to go ahead and move?
Thanks in advance
Chris1220
I don't suggest that you "advise" any of these people... just present the facts and provide an informed opinion and allow them to come to their own decisions.... it can get dicey if you give advise... and the Homeowner is injured as a result of your 'advice'.
That said, the occupancy requirements are more stringent with an FHA insured mortgage loan, than conventional loans. If she is moving out due to some hardship... that might be enough to circumvent that FHA requirement. Just document the hardship.
[addsig]
Quote:
On 2004-05-14 14:00, TheShortSalePro wrote:
I don't suggest that you "advise" any of these people... just present the facts and provide an informed opinion and allow them to come to their own decisions.... it can get dicey if you give advise... and the Homeowner is injured as a result of your 'advice'.
That said, the occupancy requirements are more stringent with an FHA insured mortgage loan, than conventional loans. If she is moving out due to some hardship... that might be enough to circumvent that FHA requirement. Just document the hardship.
That basically sums it all up, must be why they call you the short sale pro !