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Putting The Brakes On A Short Sale ..

Posted by Christian on March 18, 2002 at 9:09 PM

A friend is losing her house in AZ and has put it up for sale. After accepting an offer which ultimately forced her to request a short sale by her mortgage company (presenlty under review by Citi Mortgage), she wishes to back completely out of this deal because I have come forward offering to cure the arrears. Her problem is that both Realtors (the one representing my friend and the one representing the proposed buyer) are suggesting that it's too late for her to back out.

2 questions: 1) Are the Realtors telling the truth? 2) If they are telling the truty, what if any options exist for her to stop this process and move forward with curing arrears? Obviously I'm not interested in providing her with the funds if it won't help her to keep the house!

Thanks in advance for your responses!


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