Credit Unions and Short Sales are not a good mix.
Most of my clients Short Sales are with the banks like Bank of America,Wells Fargo,Chase...
Last month I took on a short sale were the loan was with a credit union. I received a short sale approval fairly fast.
Approval letters must be read very carefully. This approval was a very good one for the credit union. They offered the
seller a approval only if he would sign a note for the total shortage. (I smell a BK)
Needless to say we rejected that offer and countered back with no seller note. I believe this credit union will feel the loss
more than the larger banks,but they need to be more realistic and come back will a much smaller note to make this short sale work. I will continue to find a middle ground and save this home from foreclosure.
41720 Winchester Rd #I Temecula Calif. 92590 DRE# 01156692