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Lender short sale disclosure responsiblities

I have been waiting on a Lender to negotiate a short sale with me.  The Lender has indicated that negotiations can't proceed until a "File Flag" concerning a litigation is removed.  The Seller and her Broker are not disclosing anything with regard to litigation.  Do Lenders have any obligation to disclose litigation details in New Mexico? 
  • December 07 2012 - Albuquerque
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Answers (3)

Profile picture for Ofe Polack
Why don't you contact either the Board of Realtors or the Licensing Department and ask them respond to your question, that way you will be able to quote what they tell you.
  • December 07 2012
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Profile picture for user812063
Thanks,
I contacted the New Mexico Board of Realtors and they 1) verified that my realtor is a card carrying member and 2) gave me the number of the BOR support attorney who my realtor can call and get info on the matter from for FREE.

I wish this could be public information.

  • December 07 2012
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Profile picture for Ofe Polack
It is my pleasure, hopefully your buyer agent can obtain the information you need to proceed.  The best of luck! 
  • December 07 2012
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