Lucy P
Lucy P
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4 years ago
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We tried to do a short sale and were accepted but we canceled it in favor of a loan modification. We want to try for a short sale again because the modification plan was a joke. Is that possible?

The bank tells us we can't apply for another short sale because our FHA loan only permits it one time. The paperwork we signed didn't say anything about the number of times we can attempt a short sale. I think they are trying to intimidate us into accepting their ridiculous modification plan and force us to foreclose
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Charl Van Wyk, GRI
Charl Van Wyk, GRI
Real Estate Professional
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4 years ago
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Lucy, you definitely can, but you need to write a letter to the loan mod dept, and tell them you do not want to do the loan mod anymore. They will then release it so the loss mitigation department (short sale dept) can take over. What they mean is you can only do one at a time, you cannot pursue a loan mod and a short sale at the same time. Get a good negotiator to help with the short sale though.
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Lucy P
Lucy P
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4 years ago
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Thank you so much for your advice! I have contacted the bank and canceled the loan mod and am currently looking at two prospective short sale specialists to see which of them can help us out with our situation.

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Utep Erick Rodriguez
Utep Erick Rodriguez
Browsing Housing
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3 years ago
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Just do the whole process again. You con go online and get all the paperwork. If you can proof that you are in financial hardship more than likely they will approve you. You can always visit our website for similar blogs realestateelpasotexas.com
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Washington Group Real Estate
Washington Group Real Estate
Browsing Housing
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3 years ago
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I totally agree with you i had a family member that went thru a similar situation. Sell Your Home for $39.95/mth !!!$0 Commission!!! El Paso Texas Real Estate

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