ince my seller's plea for a short sale was rejected by Downey Savings who holds the first loan, I've been trying to understand why Downey would refuse. Turns out that Downey sold the note to Deutsch Bank. Negative news and forums abound about both,
The point to this is......if you're talking with clients who are either trying to sell or buy a short sale but the loan is with Downey Savings, DON'T. Downey Savings won't approve short sales at this time. Save your energy and find something else.