Current underwater owners have a NOT filed against them. It was filed in Jan. The NOD was last August. But they didn’t list the house till May.
I suspect this SS attempt is really an attempt to forestall the inevitable foreclosure.
It’s marked contingent – but that doesn’t mean the bank accepted it. They can *offer* a short sale price of anything they want… getting it approved is a whole ‘nuther thing.
Let’s say I owe $1M on my house… And let’s say the house is worth $600k. I can list my house for $200k, as a short sale, if I want and can find a willing realtor… But getting the bank to accept it is not realistic.
It’s the reverse of the wishing price sellers… Same house and I list it for $2M, even though it’s only worth $600k. I *can* list it for that. I won’t be able to *sell* it for that.
I don’t think there’s overt fraud… I think this is either a seller without a clue or a seller who is hoping to delay foreclosure.
