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    s.fagen's Avatar
    s.fagen Posts: 1, Reputation: 1
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    #1

    Feb 7, 2012, 02:38 PM
    Bank Mistake on Short Sale
    If a bank denies a short sale based on incorrect information (i.e. They wrote the wrong number down for my income and made it look like I had an extra $1000,00 a month) what legal recourse do I have? I have all the documents I sent them clearly stating my income per month. My point of contact has said that it looks like a mistake because the income report suddenly changed from one report to another but there is nothing he can do about it because another department handles the decisions about whether a short sale is approved. I have a buyer willing to buy the house for fair market value but it getting ready to walk away because of this mess.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Feb 7, 2012, 05:29 PM
    Legal Re course? You have none. The bank is not required to approve a short sale. Your only recourse is to take up the line to get the bank to review and reconsider.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 7, 2012, 05:54 PM
    You send back your info ( you write your earnings down) and ask them to redo the paper work as it was in error. They are not required to do a short sale even if you meet the requirements,
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