Updated over 13 years ago on . Most recent reply
Short Sale with Money back to Seller?
I just got a call back from my direct mailing from a woman who is looking to sell her property so she can move to Florida. She owes about $150k and has missed a couple mortgage payments since last year. I estimate I would have to pick up the property around $120k to make the deal work. She would be open to a short sale, however, she really needs cash in her pocket to move. Is it possible/legal to buy a property through a short sale and put money in her pocket too?
A follow investor told me that lenders sometimes offer relocation expenses when a seller goes through a short sale. Has anyone heard of this?