Platinum Globe http://platinumglobe.com Real Estate Company Fri, 18 May 2012 10:19:01 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Short Sale http://platinumglobe.com/2011/09/15/hello-world/ http://platinumglobe.com/2011/09/15/hello-world/#comments Thu, 15 Sep 2011 17:06:14 +0000 zevishafran http://platinumglobe.com/?p=1 Continue reading →]]> “Short Sale” Transactions are those is which a lender is willing to accept less than the outstanding balance of its loan as full satisfaction of the oblighation.

A title company will require, prior to the issuance of a policy of titile insurance, evidence that the first-position trust deed holder has received and acknowledged all payments to be made to subordinate position lien holders, regardlss of whether such payments are to be made from proceeds or from contributions by real estate brokers and/or buyers in the subject transaction, or from other third-party sources.  Evidence shall include but not limited to:

(A) A written demand from the first-position trust deed holder acknowledging and approving payments to subordinate-position lien holders from proceeds and otherwise; or

(B) A supplemental letter or amended demand from the first-position lien holder acknowledging payments to be made to subordinate lien holders from sources other than proceeds (including broker commissions and additional buyer deposits).

Material discussed is meant for inforamation purposes only and it is not to be construted as tax, legal or investment advice.  Please consult a professional for specific advice.

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