If an owner gets the lender to go along with a short sale does the owner still have to make the payments while living there?
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Submitted by Nick McCully on September 10, 2008 - 8:48am.
I have worked on more than a few short sales, and in my market not one of those transactions has been current at the time if negotiation with the lender. I would find it doubtful that a lender will be very cooperative with a homeowner who is still showing they can afford their mortgage payments. Now in the event that a lender does agree with the short sale while the current borrower is still up on payments, by not making those payments you would be causing the lender to take more of a loss than the had agreed to so you could jeopardize the agreement or may have to renegotiate the short.