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The OC Scam.
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October 23, 2008 at 8:17 AM #14268October 23, 2008 at 8:23 AM #291466
temeculaguy
ParticipantNo, the entire short process is designed to prevent that, you also can’t short to anyone you are related to or know or have ever known or may know. Nice try though.
To protect the bank, they also make sure you list on the mls and they get all offers from the public and have an independant realtor estimate the value to ensure they aren’t getting screwed. Even then, they don’t always approve the short, one of the factors is the seller being able to prove they can’t afford it any longer, they will want more docs than a full doc loan.
October 23, 2008 at 8:23 AM #291784ParticipantNo, the entire short process is designed to prevent that, you also can’t short to anyone you are related to or know or have ever known or may know. Nice try though.
To protect the bank, they also make sure you list on the mls and they get all offers from the public and have an independant realtor estimate the value to ensure they aren’t getting screwed. Even then, they don’t always approve the short, one of the factors is the seller being able to prove they can’t afford it any longer, they will want more docs than a full doc loan.
October 23, 2008 at 8:23 AM #291817ParticipantNo, the entire short process is designed to prevent that, you also can’t short to anyone you are related to or know or have ever known or may know. Nice try though.
To protect the bank, they also make sure you list on the mls and they get all offers from the public and have an independant realtor estimate the value to ensure they aren’t getting screwed. Even then, they don’t always approve the short, one of the factors is the seller being able to prove they can’t afford it any longer, they will want more docs than a full doc loan.
October 23, 2008 at 8:23 AM #291823ParticipantNo, the entire short process is designed to prevent that, you also can’t short to anyone you are related to or know or have ever known or may know. Nice try though.
To protect the bank, they also make sure you list on the mls and they get all offers from the public and have an independant realtor estimate the value to ensure they aren’t getting screwed. Even then, they don’t always approve the short, one of the factors is the seller being able to prove they can’t afford it any longer, they will want more docs than a full doc loan.
October 23, 2008 at 8:23 AM #291861ParticipantNo, the entire short process is designed to prevent that, you also can’t short to anyone you are related to or know or have ever known or may know. Nice try though.
To protect the bank, they also make sure you list on the mls and they get all offers from the public and have an independant realtor estimate the value to ensure they aren’t getting screwed. Even then, they don’t always approve the short, one of the factors is the seller being able to prove they can’t afford it any longer, they will want more docs than a full doc loan.
October 23, 2008 at 8:38 AM #291476lostcat92120
ParticipantYou mean short-sales are regulated? Amazing what a bank will do to protect themselves.
October 23, 2008 at 8:38 AM #291794ParticipantYou mean short-sales are regulated? Amazing what a bank will do to protect themselves.
October 23, 2008 at 8:38 AM #291827ParticipantYou mean short-sales are regulated? Amazing what a bank will do to protect themselves.
October 23, 2008 at 8:38 AM #291833ParticipantYou mean short-sales are regulated? Amazing what a bank will do to protect themselves.
October 23, 2008 at 8:38 AM #291870ParticipantYou mean short-sales are regulated? Amazing what a bank will do to protect themselves.
October 23, 2008 at 8:56 AM #291486urbanrealtor
ParticipantThe irony is that they make the process so difficult that they often push people to foreclosure.
I am working on 2 now where I am the listing agent and in both cases we are going round and round over 5,000 dollars.
Its remarkably silly.
October 23, 2008 at 8:56 AM #291804ParticipantThe irony is that they make the process so difficult that they often push people to foreclosure.
I am working on 2 now where I am the listing agent and in both cases we are going round and round over 5,000 dollars.
Its remarkably silly.
October 23, 2008 at 8:56 AM #291837ParticipantThe irony is that they make the process so difficult that they often push people to foreclosure.
I am working on 2 now where I am the listing agent and in both cases we are going round and round over 5,000 dollars.
Its remarkably silly.
October 23, 2008 at 8:56 AM #291843ParticipantThe irony is that they make the process so difficult that they often push people to foreclosure.
I am working on 2 now where I am the listing agent and in both cases we are going round and round over 5,000 dollars.
Its remarkably silly.
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