Washington, DC asked in Banking, Consumer Law and Real Estate Law for North Carolina

Q: I have been trying to do a short sale for over a year, after finally completed all of the process the mortgage company

Sold my loan, the new company is still affiliated with the old one, they stated that I have to start the process over, which will cause me to lose my buyer.

1 Lawyer Answer

Bruce Alexander Minnick

Answered
  • Business Law Lawyer
  • Tallahassee, FL

A: This new trick is becoming all too common in the mortgage lending industry. Your best bet is to hire a good real estate lawyer and have them write a very strong letter to the original lender and the new lender warning both of them that you may take legal action against both lenders if necessary to force them to abide by the short sale process you were working on for more than a year. Try contacting the federal or state agency that regulates these lenders too.

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