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10
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4
Votes
Maamun Danmaisoro
  • Rental Property Investor
  • Lubbock, TX
4
Votes |
10
Posts

Need help with short sale (delay in process)

Maamun Danmaisoro
  • Rental Property Investor
  • Lubbock, TX
Posted Feb 13 2020, 23:13

I’ve even working on a short sale with Wells Fargo from over two months now. I was able to stop the property from going to auction on Dec 4th. It has been a slow back and forth process with the bank and I don’t want to pull the plug yet because of the potential of the deal. Bank initially asked for an offer , which I submitted $40k lower than the $51k owed in the property. After submitting all the necessary paper works, now the bank is now asking for previous year tax returns of the owner (owner has not worked in 2 years due to a car accident), and the bank knows that the owner has been unemployed for the past year. How do I go about this please?

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