SOCIAL: short sale

[Geoff Davis]

http://homebuying.about.com/od/shortsale/f/arms-length-affidavit.htm

On Wed, Jun 23, 2010 at 5:08 PM, Amy Muller <amymuller at gmail.com> wrote:

> Hmmm... I was just listening to Forum (I think it was Forum) the other day
> on NPR and someone called up and said they were under water on their house
> and they specifically asked if it was ethical to do a short sale of their
> house to a family member and then buy it back. The "expert" on the show said
> that it was actually categorically illegal to short sale sell a house to a
> family member or friend. He was very definite about it. But maybe there *is*
> some way to do it that's not illegal? I dunno. Just reporting what I heard.
> :)
>
>
> On Wed, Jun 23, 2010 at 4:51 PM, Amandeep Jawa <deep at deeptrouble.com>wrote:
>
>> Hmmm - here are 2 NPR episodes on short sales - but they seem to being
>> promoted by the Obama administration:
>> (so probably not illegal :-) )
>>
>> http://www.npr.org/templates/story/story.php?storyId=124850418
>> http://www.npr.org/templates/story/story.php?storyId=125518608
>>
>>
>>
>> On Jun 23, 2010, at 4:48 PM, Amy Muller wrote:
>>
>> Are you talking about real estate? If so, I *just* heard this question
>> asked on NPR the other day. Short sale of a property to a family member or
>> friend is illegal. :(
>>
>> On Wed, Jun 23, 2010 at 3:31 PM, palak joshi <palak.joshi at gmail.com>wrote:
>>
>>> Dear Social,
>>> Does anyone understand short sale and can explain me into layman terms?
>>> Are there pros and cons you can list of being a buyer in the short sale
>>> to help a family member out?
>>> If not does anyone know anyone i can talk to?
>>> Thanks a lot.
>>> palak.
>>>
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>>
>>
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>
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