Home Buying in Flagstaff>Question Details

donnataylor25, Home Buyer in Flagstaff, AZ

Are there any federal or state (AZ) requirements that the banks must honor in a short sale? Aren't there any rules and regs?

Asked by donnataylor25, Flagstaff, AZ Sun Oct 28, 2012

I am in month 9 of a "simple" short sale and I can't see the end of this. Simple ui involves 1 buyer and 1 seller, no 2nd or 3rds, and buyer accepted my offer and bank came back and wanted more which I gave and which they agreed to.

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Everything sounds great except the "they agreed to" part:

How did the BANK agree to it?
They way you are talking, they didn't agree to it in writing, did they?
Remember that it has to be in writing!
If the Listing Agent told you that they agreed to it; it means nothing. nothing!

I am in sympathy with you, but forget the 9 month wait; you knew when you started that there was no time limit on this:
Go back to being patient.
0 votes Thank Flag Link Mon Oct 29, 2012
If you are asking does someone that you owe money to have to take less. The answer is no. If you owe money to a lender in AZ they do not have to settle for less than what is owed. I you have an agreement with your lender and they are not honoring that you might take it to an attorney to review.
0 votes Thank Flag Link Mon Oct 29, 2012
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