You just have to see what your options are, but the #1 thing is to make sure you got the right people working for you. Even on a short sale transaction, if it has taken a year and a half just to find that your offer was rejected, you're not working with the right people.
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
1. The investor believes you have $100,000 in a sock drawer and they believe it only fair you give it up instead of then taking the hit. After all, you did reveal you DO own other property and COULD pay your debt. "Do you think your assets are invisible?"
2. The attorney you paid the $2,5000 short sale fee knows the bank will not approve the attorney's $5,000 negotiator fee but does see $7,5000 available to help you navigate through a bK.
3. If a court appointed trustee is involved they can impede progress because they know THEIR real estate company will eventually inherit this property and be purchased by the trustee's investor associates.
4. Bank of American, Wells Fargo, and Chase are dysfunctional.
Have your REALTOR reveal where the problem exists and create a solution. As you can see, in some circumstances a solution does not exist...you have fallen into a trap.