Posted by Lily on March 15, 2004 at 21:26:01:
Buy the note & mortgage, have lender assign it to you and run it through the sale. Smaller banks will let you do this without a problem.
Short Sale Approved - Owners Husband A Problem - Posted by Kurt
Posted by Kurt on March 12, 2004 at 15:07:50:
Hello All,
Having some trouble with a short sale. Bank has agreed to accept $85k as payment on $110,000 note. Foreclosure auction was scheduled for 3/5/04, but now delayed and I have been given until 3/29/04 to close. Husband, who is NOT on title just came back into town and refuses to sign P & S; he says their not selling to me, the bank is and that the wording in the contract leaves them responsible for too much. Wife, who is on title was extremely happy and very willing to sign, is unfortunately controlled by him. This is in Washington and a community property state. He did suggest the possibility that she could sign quit claim deed. To further complicate, I got all of his opinions in a voice mail and since they have moved out of house and have no phone, I cannot call or find them. My last option to reach her is by sending a letter to ‘General Delivery’ which I did yesterday - she was in the background and told her husband in the voice mail message that I could reach her this way - can you say longshot! So my questions are:
- Anyway to close without them signing (don’t think so).
- Can I close with just her signing?
- If I have one chance to have her or both of them sign, what do I have signed; Quit Claim, or Warranty Deed or ??
Any input on this would be greatly appreciated. We are also working on running this be an attorney which we are hoping to use for a double closing as I already have a buyer at $100k for this house.