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  • I would say no as it is not an arms length transaction. However it depends on who owns the property if you have a private investor not a Fannie Freddie loan it may fly just disclose it from the very start. If you want easy access to all the major rule reference points you can go to www.HAFA.us the links for all versions of HAFA are there. I only add to the comments of others because I have seen it done if it is through the smaller servicers. But I would say the odds are 10%. Now that Bank of America is looking at principle forgiveness... ASK you may get a surprise. The Banks want cash flow..
  • Thanks for your input. I figured since it was not an arms length transaction they would not go for it. Wanted to double check about the trust issue.
  • Marcy you are right, also I heard that they are going after companies who did assignments or resale to relatives of short sale owner.
  • As far as I know all short sales have to be an arm's length tranaction so no family members are eligible to purchase a property as a short sale.
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