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FACEBOOK KILLED MY SHORT SALE!
Just came across this post and feel it is necessary to share with all of my networks!  This is NOT how you want to lose a deal.  Please be aware and make sure to let your clients know if they are short selling their house.  
FACEBOOK KILLED MY SHORT SALE!
There is this form that must be signed with most short sales called an "Arms Length Transaction affidavit".  Basically, it says that the buyer and seller don't know each other.  The form says it with a lot more finesse, but the basic message is that the buyer and seller didn't "cook up a plan" regarding the purchase of the home.

Seems silly, right?
Well, It's not, or at least it didn't start out that way....
Picture it: A family is living in a home that they bought 4 years ago when values were at "WOW" prices.  Since then, Hubby took a cut small in pay and the wife lost her job.  She decided to stay at home with kids rather than working to pay for daycare.  They can make their payments, but they are eating mac-n-cheese more often than they care to.  They try to refinance to lower their payment ... more

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