This article in today’s NY Times makes reference to banks being reticent to approve short sale because of a fear of fraud. This is not the first I have heard the concern, and while any fraud is wrong, the argument is a straw man excuse to not streamline the process. Are there fraudulent short sales, … Read More…
Tag: short sale fraud
Short Sale Fraud: By Banks!
Categories: Short salesTags: New York short sale Realtor, New York short sales, short sale fraud, Westchester short sale Realtor, Westchester short salesCNBC is reporting that some banks are being accused of, of all things, bank fraud in short sales. Those of us who sell short sales know that the hardest cases are often the ones with subordinate financing, or in layman’s terms, a second mortgage. If you owe $500,000 on a house with a $425,000 1st loan and a $75,000 … Read More…