Fortunately, most Realtors tend to just say what they think is correct and legal. But the problem is that after saying the same thing over and over, Realtors tend not to give any source material especially on sites like Youtube where every supposed fact should be analyzed. So it is with this question concerning whether a Homeowner can do their own Short Sale. Or rather whether the homeowner can represent themselves to their own bank and work their own files, and be their own loss mitigator, representing themselves.
I have seen Realtors get tangled up in trying to answer this question by quoting the now famous phrase that it must be an 'arms length' transaction, meaning that the buyer cannot be related to the Seller in any way, and there cannot be any type of offer structured to benefit the Seller in any way with the sale of the property. But this really has nothing to do with the question about the Seller handling their own Short Sale.
I am researching this question to find the legal answer and I would greatly appreciate any help given, other than just to quote the usual Realtor Mantra that a Seller cannot do their own Short Sale because it must be an 'arms length transaction.'