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kfishman22, Home Buyer in Woodbury Heights, NJ

When is the loan supposed to be paid off after the short sale closing? Thank you

Asked by kfishman22, Woodbury Heights, NJ Mon Apr 15, 2013

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6
If you are referring to the mortgage that is being settled by the Seller in the short sale, the escrow company is going to wire the money to the lender when escrow closes.

Thanks,
Sara Mehrpouyan CDPE
Specializing in Foreclosure & Short Sale
Rodeo Realty
Direct 818-903-2040
Dre License #01712757

http://www.Short-Sale-Vs-Foreclosure-Help.com
1 vote Thank Flag Link Mon Apr 15, 2013
Escrow is instructed to wire the funds and send closing documents within 24-48 hours of closing.
Good luck,
1 vote Thank Flag Link Mon Apr 15, 2013
Is there anything I can do if they didn't pay it for 17 months after closing?
0 votes Thank Flag Link Mon Apr 15, 2013
Loan will be paid off before recording/close of escrow.
0 votes Thank Flag Link Mon Apr 15, 2013
LOAN GETS PAID OFF A DAY OR SO BEFORE THE RECORDING OF THE OROPERTY IN THE COUNTY
0 votes Thank Flag Link Mon Apr 15, 2013
The Loan should be satisfied before the deed is recorded to the Buyer. That is why Escrow always "funds" a deal and records the next day.

__________________________
Sincerely,
Caroline Harabedian
Realtor
RE-Search Concept
8700 Reseda Blvd., Suite 213-B
Northridge, California 91324
(818) 967-9626 mobile
(818) 979-0226 fax
http://www.HomesByCaroline.net
caroline.wcli@gmail.com
0 votes Thank Flag Link Mon Apr 15, 2013
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