I don't know about getting the extension, but unless the bank was willing to take a significant haircut, no deal in my eyes.If the bank is foreclosing on a loan where there is equity, they will possibly recoup their money in the event of a trustee auction, why would they postpone that to negotiate a short sale for less than they could potentially get at auction?

That's a 20% haircut and a reduction of over $20,000.

Asking a lawyer if you need an LLC is a little like asking a barber if you need a haircut, but I hope they will be honest.  

@David AdamsGet a haircut and get a real job

It's going to be a heck of a lot better than taking a hair cut to the tune of +/- 30% of your 401k's value!

This is where the haircut comes into play on the price.That said, your lender isn't going to underwrite that way. 

belt to match.. and of course fresh hair cut ( what little I have ) what I find that has really changed though is air travel.. in the old days people dressed up to get on a plane now a days same thing anything from PJs to business suits and again I am always country club casual in my attire..  

If the note is around 4% then seller takes a haircut. 

That approval will either mean the bank realizes the house is a loss and comes to some agreement as to how much haircut they'll accept, or the seller comes up with a way to pony up the difference.

STR lending saw haircuts this past week- LTV cut, reserves increased, FICO needs to be higher.NONQM (the big guys) have new product restrictions.We are in recession now.