Short Sale Sellers, yes you SHOULD expect to Contribute

Today Short Sale are getting approved, and some banks want the seller to help pay to close the deal.

If your loan is with Bank of America/Countrywide, or if you have a second and YOU ARE THE SELLER _ you need to expect to PAY something to contribute to the sale of your home.

3 of my recent Short Sale approvals in Tracy CA, and one in Mountain House expected contributions from the seller.

Think of it this way Mr & Ms. Seller - if your bank said to you - "Give us $10,000 and we'll put $100,000 in your account would you do it? Of course you would. This is a similar situation. The Bank (loan holder) is offering to eliminate your debt in exchange for you paying something. Sounds like a deal to me.

Yes you can still go into foreclosure, and I always recommend seeking the advise of a good attorney before deciding to proceed with a short sale or going forward with a foreclosure.

Mr /MS Seller if you're not paying your mortgage, save some of that money so you can contribute towards the sale of your property if you are asked.