Dear Home Buyer in Lighthouse Point,
Buying a home which is a short sale the new home buyer needs be prepared to wait many months for an answer and also be prepared the lender will not agree to the sale.
In a short sale the lender is not the legal owner of the property. The homeowners still own the property and the lender must agree to accept a mortgage payoff amount less than what is currently owed on the property.
The lender does not have to accept any payoff for less than the amount owed. They can demand the entire amount due or even go forward with foreclosure proceedings if the payments are behind.
This is a risk you take when you are trying to purchase a short sale home. I hope you close on a home soon.
The Keyes Company Realtors