The answer is it does not matter whatsoever! It may initially seem counterintuitive; however, this is the reason why it is a reality. When deciding whether to accept a short sale offer the lender will compare the offer to the alternative: simply letting the home go to foreclosure. At a foreclosure auction potential bidders will take the "fair market value" into consideration; not the outstanding principal balance owed by the defaulting homeowner. The short sale lender is aware of this fact and will apply the same principle to the offer that is presented. As long as the offer reflects the current appraised value the lender will ignore how much of a cut the deficiency is because that is what will happen at a foreclosure sale!
Lenders we work with include (but are not limited to):
Aurora Loan Services * Bank of America * Carrington Financial * CCO Mortgage *CitiFinancial * CitiMortgage * Dovenmuehle * EMC Mortgage * Flagstar * First Horizon * GMAC * Green Tree Financial * Heartland Bank * Home Eq * Horizon Bank * HSBC * IBM Lender Business Processing (LBPS) * IndyMac * JPMorgan Chase * LCS * Litton Loan Servicing * Met Life * National City Bank * Nationstar * Ocwen Financial * OneWest Bank * PHH * PNC Bank * Paleco Credit Union * Pulaski Bank *Regions Mortgage * Saxon Mortgage * Select Servicing Portfolio * Seterus * Sun Trust * US Bank * United Bank * United Guaranty * Vericrest * Wells Fargo Bank.
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