Can I Stay In The House After A Short Sale?

I often have sellers ask me if they can purchase the house back from the buyer after a short sale. I really wish you could, but unfortunately, you can’t.

One of the stipulations from your lender is that you can’t benefit from the short sale. Staying in the house after a short sale, regardless of who buys it, would constitute a benefit to you. Whether through a land contract, lease/option or lease – we don’t want you committing loan fraud by going against your lenders short sale requirements.

There are plenty of other benefits from the short sale that you can receive: saving your credit from a Michigan foreclosure and keeping the mortgage company from coming after you for the foreclosure deficiency are the two biggest ones.

If you want to find out if it your best option, give me a call. You can reach me at 269-685-5921.

Emily

Share This Post

Leave a reply

You must be logged in to post a comment.