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2
burritos
2011 Mar 17, 4:22pm
Well they're as good as married couple, so what really happened was that they got a principal reduction of 220k. All it cost him was one of their credit and maybe a 1099 deficiency claim.
3
MarkInSF
2011 Mar 17, 5:29pm
Not sure how this classifies as "gaming" the bank. If the bank didn't short sell to your friend's son, they would have short sold it to somebody else, probably for less.
4
American in Japan
2011 Mar 17, 5:58pm
American in Japan
2011 Mar 17, 5:58pm
Details please?
He made a short sale in which the bank took a loss, or he lost part of a big downpayment??
So what is the main issue here? (just to keep with the thread).
Son is gay. Partner bought a house in socal in bubble era for 400k. This year, the partner bought a similar home this year for half the price. He then short sold the bubble home to my friend's son for 180k. I guess if gay marriage were legal and they were married, this couldn't have happened.