Tags: short sale refusal
Can a 3rd party prevent the closing of an approved Short Sale?
March 27th, 2010 by Jarad S.
Question: Can a 3rd party, acting on behalf of a 2nd mortgagee prevent the closing of an approved Short Sale by refusing to accept the amount offered them by the 1st mortgagee?
Answer: – Yes they can… Many times mortgage companies will have 3rd party collection agencies deal with negotiating payoffs. If they don’t like the offer they don’t have to accept it. Sometimes they can very difficult to work with. They only way is to either give them what they want by handling it outside of closing or negotiate with them more until they decide to accept.
