Short Sale Standoff. Each Lien Holder Wants The Others Approval First Prior To Moving Forward

In some cases you will find both lien holders unwilling to proceed without the others approval letter. A short sale standoff in the past such as this used to make deals crumble and at times it still potentially can. From our recent experience we have not seen a deal fall apart due to this for quite some time if it is properly addressed. From our experience the best way to address this is to obtain written proof in the form of an email, fax, or letter  from the lien holders stating that they are unwilling to move forward without the approval from the other lien holder. Take this proof to the mortgage servicer and escalate the file to management level. With proper escalation, communication, and supporting documentation you should be able to get one of the lien holders to move forward. If it fails continue to climb the chain of command until you reach someone who can resolve the issue.

For any questions or assistance with escalating a short sale please fill out the form below.

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