In light of an interesting conversation I had with a short sale lender today, I wanted to throw this out there for discussion, what do you tell your clients when they ask if they should continue living in the house they are trying to short sale? Should they stay or should they go? This particular lender told me that because the homeowner had vacated the property, that it was considered a "non-owner occupied."
I explained to him my clients desire not to live in a house that they couldn't afford the payments on and that they were trying to do what the felt was the "right thing," that is, not continue to occupy a home they could not afford, but that they had owner occupied the home and had never rented it out.
What do you recommend to your clients when they are considering staying or moving from their home and trying to do a short sale?
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