Explain Option Contract & Short Sales

We have been discussing option contracts and short sales along with title companies that close short sales using teh option contract. The memorandum or notice of option must be recorded at the courthouse as evidence of teh shorts ale option contract. Next, a title company must be used for a back to back closing.

This can accomodate teh option contract and the shorts sale transaction. Find the title company first and then write the notice of option contract with an attorney that understands teh short sale transaction. If you are in a hurry to close with teh option contract then hope that you have Litton Loan Services and not Indymac for the shorting lender.

Option Contracts with Short Sales Reviewed step-by-step.

Countrywide Not Allowing Short Sales of Investment Property

Countrywide disallowing short sales of investment property is the shot sale information reported today. When Countrywide does not allow an investment property short sale then there is no short sale that is available for the non-owner occupied property and it will end in foreclosure. Look to see if the property that is the subject of the short sale is an investment property and if it is then you can not short sale the property if it is with countrywide mortgage.

Countrywide and short sales of investment properties is being discussed at the Countrywide Short Sale Blog of non-owner occupant properties.