Is there anything I can do to prevent a foreclosure when lender is not willing to sell to inverster?
Real Estate
I аm selling mу condo іn short sale, bυt lender іѕ nοt willing tο sell іt tο investor. Thеrе іѕ nο interest frοm people tο bυу іt fοr a primary residence. Sο lender іѕ forcing mе tο foreclose.
Iѕ thеrе anything I саn ԁο tο prevent a foreclosure?
I do not think it legal for them to decline an offer based on it being an investment, you should talk to an attorney.
HI, yes you have two other ways to go. Please let me know what you want to do
Stay in your home if you could get cheaper payments and have your loan lowered
to what what it is worth. Or you can walk away and not suffer any problems.Plus get
some money to move on.This will not hurt your credit and the bank can’t come after
you for any money.Please email me if you want more info. Stan
Some lenders will decline an offer that is presented from a non-owner occupied, aka an investor. You need to engage in a conversation with your lender for some more time since they are not being cooperative with the offer on the table.
Nope
In a short sale situation, the lender (owner) has final say in who buys the place.
Also, being a condo, only a certain amount of units can be rental or investment units. Maybe the bank knows something you don’t.