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Updated over 7 years ago on . Most recent reply

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Tom Gimer
  • DMV
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Why would a lender NOT approve this?

Tom Gimer
  • DMV
Posted

Short-sale approval obtained a while back... it's Friday, closing is Monday.

Purchaser had something come up and now wants to buy a different property and have his "friend" slip in and close on the deal. 

Assuming the right bank contact can be reached (and proper assignment, etc. executed), why would the shorting lender NOT approve this? Perhaps I'm not thinking of something.

Thanks in advance for any quick feedback.

  • Tom Gimer
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Gimer Law

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Jay Hinrichs
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  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

@Tom Gimer   VERY VERY simple answer to keep wholesalers and no money flippers at bay..

they only want to sell to bona fide buyers.

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JLH Capital Partners

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