This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.
Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.
Suddenly got quiet around here….are those birds I hear chirping out back????
