Short Sales and the Law? - Posted by Virgil Horner

Real Estate Investing Real Estate Law
1

Posted by DJ-nyc on June 25, 2008 at 12:52:00:

Ask your friend to show you where in the law it is stated. Contact an attorney.

DJ-nyc

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Short Sales and the Law? - Posted by Virgil Horner

Posted by Virgil Horner on June 24, 2008 at 11:36:37:

Hey,

Hey,

A friend of mine, and fellow real estate investor, who has become an expert at short sales, says that it is illegal for a lender to counter offer on a short sale for more than what they are owed. Is this true? Is it illegal for a lender to counter offer for more than what they are owed?

Thanks,

Virgil Horner
New Element Real Estate LLC.
208-308-0703

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Re: Short Sales and the Law? - Posted by William Bronchick

Posted by William Bronchick on June 27, 2008 at 09:49:28:

Not sure what “new law” you are referring to but there’s no federal law on this issue only state laws on foreclosures and none of them prevent a lender from doing so.