Only One Borrower Cooperating Short Sale

We were recently brought a short sale transaction in Santa Monica, California by an agent who has a borrower who desperately needed to attempt a short sale review. The issue in their case though was that there is a co-borrower on the loan who was nowhere to be found. The challenge of one borrower cooperating short sale is often grim; This scenario destroys deals because without all borrowers participation the short sale they typically will be unable to get done. Similar issues arise  during nasty divorces or feuding parties. Even if the short sale got approved without the co-borrowers financials they would still need to sign certain pertaining documents. The bare minimum you will need all borrowers willing to sign documents. With only one borrower cooperating on the short sale the transaction will be an uphill battle and may not be able to get approved or closed.

One borrower coopearting short sale? You may not be able to get past the first phase.

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