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Asad Rahman
Asad Rahman, Lawyer
Category: Real Estate Law
Satisfied Customers: 2185
Experience:  Practicing Attorney with 10 years experience
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In California, when the bank determines the home must be

Customer Question

In California, when the bank determines the home must be sold as a short sale, who or what determines if the original home owner can buy the home back again via the new buyer?
Submitted: 1 year ago.
Category: Real Estate Law
Customer: replied 1 year ago.
For 4 yrs I've been working to try to keep our home. Not owned by Freddie or Fannie therefore no HARP. WF sold our note AFTER we did a loan mod in 2010 with the "suggestion" we could do another loan mod when our note goes up 2K/mth this June 2016. New investors (note holders) say NO to that. Our home never recovered so is upside down. WF now says we need to either do a SS or Deed in Lieu. We don't want to move but are being forced into this or pay 130K roughly that we don't have. Only option/hope is for someone to buy the home then maybe we could rent, lease or buy it from them. Is this legal in CA?
Expert:  Asad Rahman replied 1 year ago.

Yes you may be able to do this. See this program. http://m.pe.com/articles/short-646935-sales-program.html

Expert:  Asad Rahman replied 1 year ago.

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Expert:  Asad Rahman replied 1 year ago.

Thank you for signing up for our service. If you need further assistance, let us know, otherwise, please "accept" the answer. If you are inclined, a positive rating is appreciated.