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Posted by RSI on May 24, 2007 at 14:28:32:
In Reply to: Using DIL leverage against a short sale posted by Greg on May 24, 2007 at 13:42:08:
No.
Remember, in cases of default, the lender (almost always) is in the postion of power.
So, it would behoove you to go to the negotiating table assuming you have none and are basically at their mercy...because you are.
The lender will determine which salvage scenario (DIL / Short sale / Foreclosure) best fits with their agenda to minimize impact loss (to them).
To mazimize the possibility of personal impact satisfaction, your approach will be tailored to meeting what makes the most financial sense from a lender perspective...with the lest amount of negative impact to you.
The other thing is both DIL and Short sale fall under the "loss mitigation" category. Lender systems being what they are will force you to "pick one" or they will do it for you (or worse, toss out your file). They are not going to assign two negotiators to work the same file at the same time.
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