Tagged : seller contributions 
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Will my lender ask me to contribute to my short sale?
Monday, November 28th, 2011 at 2:33pm. 616 Views, 0 Comments.
Most of the time short sales end up costing the seller nothing. Periodically though, the lender may ask the seller to contribute to the short sale in either the form of a cash contribution at closing or an unsecured promissory note payable after closing. It is impossible to predict for certain which sellers will get asked for such a contribution, however the odds of being asked to contribute increase when:
- There is private mortgage insurance on the loan
- The property is an investment property rather than an owner occupied property
- The seller has good credit and is current on all other payments
- The seller has income in excess of his/her monthly payments
- The seller has significant assets
It is not a given that you will…