Â Not all Northwest Indiana Homes Subject to Lenders Approval of a short sale close escrow.
Recently, at short sale Webinar hosted by HUD's Making Home Affordable Program, major lenders were represented in a discussion panel->Â Chase, GMAC, Well Fargo, Bank of America, CITI Mortgage.
This question was asked to the panel "Why, if there is an offer on a short sale listing, do the banks sometimes proceed with foreclosure process? "
The answers varied, one common answer voiced by several of the panel members was cost involved for the bank to stay the foreclosure.
Since the extension ofÂ the HAFA program ends on 12/31/13, more than ever an experienced REALTOR who is SFR certified and has successfully closed short sales with sellers who cooperate (even when served with notice to foreclose during the course of an offer)
is an important factor in overcoming obstacles and successfully closing this non-traditional real estate transaction.
Below are links to recent references for F.C.Tucker 1st Team Real Estate ( we have been closing short sales successfully since 2008, if you Google our name, there are many older references online as well.
Reading these may help a home seller who is delinquent on their mortgage payments decide to Talk To Tucker to list NW Indiana property to sell subject to lenders approval of a short sale!