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Posted by NJDave on December 30, 2006 at 04:03:17:
In Reply to: What qualifies a property for a short sale? posted by Tom on December 30, 2006 at 01:40:45:
Preforeclosure short sales are lender specific, criteria driven. If the lender determines accepting less than the full amount due is in its best, financial interest... it may.
Though times are a changin, if the lender can be made whole by foreclosing and then forcing the sale... it will.
All shorts are predicated on the property's confirmed, as-is, fair market value.
