Loan Modifications from the lender - just before short sale approval

How many of your sellers have gotten unsolcited loan modfication approvals. Mine have.

Other Realtors have told me the same thing has a happened to their clients.

After you get a negotiator assigned you may wish to prepare your clients.

Unexpected approvals may be coming to derail your short sale.

I am not against loan mods, in fact they are part of a useful workout plan.

But a surprise one can be a problem.

Sellers should have in mind what would be acceptable.

What kind of payment reduction. 2 years 5 years 30 years 40 years?

How much

Do they want the missed payments tacked on the back end?

Principle reduction?

Have they left an escape clause in the purchase and sale agreement?