From: "Nikkie Adams" 
Newsgroups: misc.consumers.house
Subject: Re: Short Sale OR Don't Short Sale????
Date: Sat, 19 Jul 2003 05:59:46 GMT

Believe me if we had the $10,000 we would give it to them!!! In a heart
beat. Our bank will not loan us the extra $10,000 (yes we tried to get the
extra money) because the house wont appraise for that.
No, whether to short sale or not too is not our decision but our friends are
willing to do whatever we felt needs to be done. If we feel it is a good
idea to pursue a short sale than they will do that. They will do whatever it
takes including liquidating all their assets for it to happen. We have told
them not to do that for us but to use that money to clear their own personal
debt. There were other options for us to close on the house besides their
liquidating for it.
So far, a short sale is probably not necessary. The lien is in process of
being transfered to their current property (which already sounds kinda like
a short sale just takes awhile for the Bank to pull together). The property
will have a clear title around Sept. 1st. We will then be able to close.
I am not blind to anything BTW these are friends that I would do anything
for and they would do the same for me. They were aware of a possible short
fall and planned on paying the short fall out of pocket at closing BUT again
stuff happend and when closing came around in May they had hit bottom
unexpectedly.
I would give them the shirt of my back, the food off my table and the roof
over my head if it was going to help them through this time. After all they
have already done that very thing for my family when we were in trouble!

"v"  wrote in message
news:3f1811cd.1883286@news.verizon.net...
> On Thu, 17 Jul 2003 00:15:46 GMT, someone wrote:
>
> 1st, I don't really understand the phrasing of your post's title, like
> it was any choice of yours????  Otherwise, looks like short sale or no
> sale.
> .
>
> >I am sorry if you feel this is a friend issue. I am sure you've never
ended
> >up in health crisis and on the verg of loosing everything.
> >
> All this has nothing to do with their ability to transfer the property
> to you free & clear.  Because they are your "friend" and you feel
> sorry for their health crisis, blinds you to the fact that they let
> you get so far along, before 'finding out' that they are $10k short.
> What would you think of someone who was not a friend, who led you into
> something like this?  Well, your friend having the same effect on you.
>
>
> > No one could have
> >ever perdicted what the future held for them.
> >
> Yeah, so what.  Doesn't effect the present facts.  No one could
> predict what the future holds for anyone.  They are no different.
>
>
> >They are sick that we are in the middle of this.
> >
> But you still are.
>
>
> >I hope you never end up in a situation like theirs and if you do I have
you
> >have friends like them to help you out.
> >
> How are you helping them out?  Only if you are paying above market
> which made it worthwhile for them to hold on and sell to you.
> Otherwise, they should have sold it sooner (which means to someone
> else).  So, if they are helping you out, then that screwed THEM.
> Maybe they are hinting that you should cough up the 10k.  If you think
> they helped you so much, and they are a 'friend', then maybe you
> should, and show us all what a good friend you are.  Yeah, you talk
> indignantly about how unfortunate they are and how important
> friendship is, but is your money where your mouth is????
>
> And then we would repeat, that with friends that cost you an extra
> 10k, who needs enemies.
>
>
>
> Whether a short sale is feasible will mostly depend upon the 2nd
> lender, how much short, how much would otherwise be had from a
> foreclosure sale, whether it is a better deal for them to take short
> money or foreclose.  Nothing at all to do with friendship or health
> problems.
>
> -v.
>


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