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Short sale payment named as "curtailment" is still fraud if not on HUD
“CURTAILMENT” short sale payment not on HUD is still fraudOn a short sale contract in Oakland, CA, I was told about payment out of escrow as “CURTAILMENT” which is defined as:
The act or process of reducing a company's operations in order to bring stability to the company. Curtailment usually occurs when the company has been experiencing unsustainable growth that it is unable to manage effectively. Tactics of curtailment include spinning off subsidiaries, laying off staff, and generally focusing the company's operations on the best products that it is able to create effectively. Curtailment is intended to improve efficiency and increase profits.
The first lien holder Wells Fargo gave approval with payoff of $6,000 towards 2nd

Second lien holder wants:
$6,000 from Wells Fargo $3,000 additional payment to satisfy lien  
Although the buyer may be willing to contribute the $3,000, his agent insists that this is
Shown on the HUD closing/settlement statement as a contribution towards payoff of the Second lien Approved by the First lien holder  
Listing agent refers to the additional payoff to the second lien holder as "curtailment" payment, and said this is not going to be on the HUD. Listing agent wants buyer ... more

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