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Updated over 15 years ago,
Short sale deal?
Going to look at a house tomorrow. FSBO. Asking price 69k, mortgage 61k. Owner of the house died and left it to the estate. 3 siblings. They all live out of state. Sounded like they would just like the place sold. When I talked with the brother he mentioned something about a short sale their attorney mentioned to them????
1) Why would thier attorney mention it? Maybe I misunderstood?
2) Would the banks consider a short sale under these circumstances? Not sure if he is/was behind in payments.
3) Can the family present some type of hardship letter to the bank?
I think I need more info from him? I figure since I'm going to see it, I might as well try to get an idea before hand.
Thanks,
Norm