As stated by the other answers this seems to be a difficult decision.
If youâ€™re really want the property then stick it out other wise just move on.
I have also not represented that you follow this advice; this is just a suggestion in a public forum for review and not a professional consulted opinion in the matter
Hawthorne Capital Corp.
Phone: (212) 231-0062 Ext. 5183
Cell: (347) 819-5682
Third the provisions of the investment Trust force the bank to replace the loan - in this market good luck.
And last, the lender will NOT repurchase a loan with recourse until its recourse in run out (after three years). Then there is no benefit to short sale whereby they can walk and leave the asset to the trustee.
Don't believe me? Check out how many homes went to foreclosure sale and now months later the REO still have the outstanding taxes due . . . I donâ€™t think the realtors (example) are the problem. The NAR should get involved in the matter soon. They are now being duped like the rest of us into lender servicer unlawfulness - non sense. Itâ€™s hard to believe but true. You'll likely need to play â€œColomboâ€ and likely force the sale in a court of law and call there bluff.
If the Servicer has not identified such failure to provide an assessment and attestation for its liability and limiting its capacity to provide a Trustor a work out work out or remedies, these items are a material failure to fulfill its obligations under the related servicing agreement in the Servicer's Compliance Statement provided under Item 1123 of Regulation AB.