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Originally Posted by Mtobar  In all honesty, I haven't seen anyone affected by providing their information to them. At this point they are basically just either wanting to help you modify the loan or help you get rid of it. |
Thanks for the contact information.
But my question still remains, if the income/asset information doesn't affect their decision to agree to (or not agree to) a short sale, then why is it necessary to provide it to begin with. It should be a decision the lender makes based upon how to realize the maximum proceeds to minimize the realized loss. And that's all.
Now if you are talking loan modification, I understand why they are looking for it, as they need to understand what you "qualify" for. But in terms of a short sale, if they can't seek a deficiency judgement against you, then what the heck is the point? Is it just to be punitive and put you through the ringer?
Perhaps it's the conspiracy theorist in me, but I refuse to provide personal information unless absolutely necessary. How often do you hear about hackers getting access to personal information at banks, etc? Too often for my liking, and all the more reason to safeguard your financial information.