You would think they would forgo the $35,000 relocation incentive and give that to the lien holder at the very least.
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Two problems here ,, first the banks REALLY REALLY want a new buyer to paper over the fraud they perpetrated That’s why they have incentives ,, they want that short sale , they want that old transaction buried as far as they can... and anyone that simply denies denies denies and forces discovery will cost the banks far more than that $35k ... they will (by recent reports from 2nd DCA FL ) be offered forgiveness and a 75% to 90% haircut to sign new paperwork and not countersue.
second ,, there is no first lien on the vast majority of these properties... when the mortgages were sold to create the certificate issue by OCC rules the original note/obligation is destroyed (so the issuer/banks cannot sell it a second time)... there is no mortgage ,, only collection rights on an anticipated income stream.
“there is no mortgage ,, only collection rights on an anticipated income stream.”
Thanks for the info. Seems they’re all shysters from the get-go.