Suggestions if MI Company is asking for cash to close your AZ Short Sale

By
Services for Real Estate Pros with American Financial Network, Inc 1181993

One of my agents is going through a AZ Short Sale transaction which has a mortgage insurance company involved.  Out of the blue the MI company is asking for 16k and this is a true hardship.  As you know when MI companies are involved it adds a new layer of complexity to the az short sale.  After doing some research in our short sale department here are some ideas that have worked and hope they can help you:

-Have the buyer counter back and increase the purchase a few thousand dollars

-Have the buyer offer to contribute to the MI company

-Write a separate letter aside from the original hardship letter addressing why the seller can not contribute

-All 3

 

Posted by

Ryan Mandley

Empire West Title Agency

480-203-6263

Rmandley@ewtaz.com

ET Home Warranty

ryan@ethomewarranty.com

Comments (0)