owner wants walk away cash for short sale

[Account Closed]

A homeowner that contacted me from a yellow letter is willing to short sale her home. She owes too much. She is 6 months behind. The house needs a total rehab to be rent ready. She is supposed to talk to her mortgage company about doing a short sale. She wants to know what is in it for her. She wants $15K or $20k in cash to short sale her home. First of all, there is no way that is happening. This is a C neighborhood and that much cash would never fit into the numbers for it to be a good deal. 

Second, and maybe most important, it doesn't seem like it would be legal to give her cash for basically defaulting on a loan. Thoughts?

[Jeff Valentino]

People crack me up asking "what's in it for me" when they're 6 mos behind and the house needs a total rehab to be rent ready. It's a good time to ask politely why she thinks the bank will give her 15-20k cash, let her sell her home for less than she owes while living there for free. Where do I sign up for that deal?!?

Are many short sales even being approved in your area? They a far and few between around here these days. The ones that do go, move sloooower than they used to.

I'd move on as it could be a big time suck for nothing.