Closing

[scaredyclassic]

why no concessions in a short sale v an reo. seems like there would be more incentive to negotiate to avoid foreclosure for the bank particularly now where foreclosures are problematic.

is there any risk to asking?

[sdrealtor]

No risk just very likely no reward. In an REO you are negotiating with a single decisionmaker. In a short sale, any change has to go through the review of a handful of stakeholders. Its far more complex and more than likely will get stopped along the way by someone who doesnt want to deal with it. The difference is systemic not related to risk v reward by the lender.

[sdrealtor]

No risk just very likely no reward. In an REO you are negotiating with a single decisionmaker. In a short sale, any change has to go through the review of a handful of stakeholders. Its far more complex and more than likely will get stopped along the way by someone who doesnt want to deal with it. The difference is systemic not related to risk v reward by the lender.

[sdrealtor]

No risk just very likely no reward. In an REO you are negotiating with a single decisionmaker. In a short sale, any change has to go through the review of a handful of stakeholders. Its far more complex and more than likely will get stopped along the way by someone who doesnt want to deal with it. The difference is systemic not related to risk v reward by the lender.

[sdrealtor]

No risk just very likely no reward. In an REO you are negotiating with a single decisionmaker. In a short sale, any change has to go through the review of a handful of stakeholders. Its far more complex and more than likely will get stopped along the way by someone who doesnt want to deal with it. The difference is systemic not related to risk v reward by the lender.

[sdrealtor]

No risk just very likely no reward. In an REO you are negotiating with a single decisionmaker. In a short sale, any change has to go through the review of a handful of stakeholders. Its far more complex and more than likely will get stopped along the way by someone who doesnt want to deal with it. The difference is systemic not related to risk v reward by the lender.

[scaredyclassic]

what if the second is held by the same lender as the first?

[scaredyclassic]

what if the second is held by the same lender as the first?

[scaredyclassic]

what if the second is held by the same lender as the first?

[scaredyclassic]

what if the second is held by the same lender as the first?

[scaredyclassic]

what if the second is held by the same lender as the first?

[bearishgurl]

[quote=walterwhite]what if the second is held by the same lender as the first?[/quote]

If the first and/or second TD’s in your short sale are in favor of [name of servicer/lender] AND MERS, the second may have originally been funded by the same lender as the first but the first lender no longer owns it.

In this case, it’s also possible that neither TD is owned by the original lender whose name is shown on its face.

One of both of these loans could have been sold off multiple times. In this case, MERS would presumably have records as to who owns it/them and would be able to share this info with your SS negotiator.

Since you are presumably a trained atty, scaredy, I will not put my usual disclaimer here :=]

[bearishgurl]

[quote=walterwhite]what if the second is held by the same lender as the first?[/quote]

If the first and/or second TD’s in your short sale are in favor of [name of servicer/lender] AND MERS, the second may have originally been funded by the same lender as the first but the first lender no longer owns it.

In this case, it’s also possible that neither TD is owned by the original lender whose name is shown on its face.

One of both of these loans could have been sold off multiple times. In this case, MERS would presumably have records as to who owns it/them and would be able to share this info with your SS negotiator.

Since you are presumably a trained atty, scaredy, I will not put my usual disclaimer here :=]

[bearishgurl]

[quote=walterwhite]what if the second is held by the same lender as the first?[/quote]

If the first and/or second TD’s in your short sale are in favor of [name of servicer/lender] AND MERS, the second may have originally been funded by the same lender as the first but the first lender no longer owns it.

In this case, it’s also possible that neither TD is owned by the original lender whose name is shown on its face.

One of both of these loans could have been sold off multiple times. In this case, MERS would presumably have records as to who owns it/them and would be able to share this info with your SS negotiator.

Since you are presumably a trained atty, scaredy, I will not put my usual disclaimer here :=]

[bearishgurl]

[quote=walterwhite]what if the second is held by the same lender as the first?[/quote]

If the first and/or second TD’s in your short sale are in favor of [name of servicer/lender] AND MERS, the second may have originally been funded by the same lender as the first but the first lender no longer owns it.

In this case, it’s also possible that neither TD is owned by the original lender whose name is shown on its face.

One of both of these loans could have been sold off multiple times. In this case, MERS would presumably have records as to who owns it/them and would be able to share this info with your SS negotiator.

Since you are presumably a trained atty, scaredy, I will not put my usual disclaimer here :=]

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