Asked by Timbuyer77, Trenton, NJ • Mon Mar 12, 2012
Short sale situation. Seller is using a loss mitigation company to work with the bank. Asked us to sign a form agreeing to pay the loss mitigation company through a buyer's credit from the lienholder. Language says we would pay no additional out of pocket costs and if the sale didn't go through or lienholder didn't agree to the credit, we would not be charged. Anything dangerous to this? Why can't the lienholder just pay the loss mitigation company directly?
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