Good reason to do a short sale after filing Bankruptcy.. anyone?

[Steve Norton]

Hey folks here is a question for you!

Can you think of one REALLY GOOD reason why the home owner would want to sell the property via short sale after filing BK? I will have to convince the home owner's bk attorney to get the sale approved with the bankruptcy court if I want to move forward with this short sale. Otherwise he will suggest against it and the home owner will listen.
The home owner has abandoned the property and it is vacant ready to be foreclosed or hopefully short sold.

Thanks again!

[Scott Hubbard]

Originally posted by Steve Norton:

Hey folks here is a question for you!

Can you think of one REALLY GOOD reason why the home owner would want to sell the property via short sale after filing BK? I will have to convince the home owner's bk attorney to get the sale approved with the bankruptcy court if I want to move forward with this short sale. Otherwise he will suggest against it and the home owner will listen.
The home owner has abandoned the property and it is vacant ready to be foreclosed or hopefully short sold.

Thanks again!

Foreclosure on their record will negatively affect the their credit. On loan applications, there is a question posed " Have you ever been foreclosed upon? A yes answer could mean they will not get an A paper loan. This sould cost them thousands of dollars.

If I were you, wait till the dust settles. These usually do not turn out well.