how-to-get-around-the-30-to-90-day-seasoning-requirement-on-a-short-sale

[Pete Nater]

I'd love to hear what seasoned investor think about this article and video. Does it sound like the are correct? Thanks

http://www.duncanwierman.com/blog/real-estate-investing-2/short-sales-real-estate-investing-2/how-to-get-around-the-30-to-90-day-seasoning-requirement-on-a-short-sale/

[J Scott]

He basically says that because the investor is not part of the contract between the bank and the homeowner, the investor can't be held to the restriction imposed in the contract.

The problem with this is that the investor (the short-sale buyer) is *REQUIRED* (along with both agents) to sign an affidavit to this effect as well. So, even if the contract doesn't bind the investor from adhering to the restriction, the affidavit does.

Btw, in my experience, this is not imposed as a deed restriction...just a notarized affidavit at closing. Thought that's not to say it isn't done as a deed restriction in other places.