My lender PennyMac is not allowing us a short sell after we have submitted a completed package. 
At one point, we did have a loan modification but our financial situation changed and we could no longer keep that obligation. Needless to say, we have been behind on our mortgage payments and were recently informed of a foreclosure on our property. On the same day we were informed of the foreclosure, we contacted PennyMac to see if we could, again, qualify for a modification. However, we were infirmed we did n't, even though my husband recently graduated college, & is working full time as I am. After being declined for a modification, we suggested a short sale in lieu of a foreclosure, and were told that that would probably not happen because we had about 30 days before the scheduled foreclosure. We asked to give it a try as we believe a short sale is more advantageous to both parties. After speaking to several representatives at different times and days, we were finally told we could try, and to fax an authorization have our realtor have direct contact with them. Our realtor contacted them, completed ( with us ) the short sell package and forwarded it to PennyMac ASAP. 
We have been informed, as of today, that they could n't grant the short sell, although an offer was attached. 
We believe that a true and honest effort has not been done by our lender, but rather disregarded the fact that we are asking for an optional solution that can work for both parties. It seems to us as though this has fallen in deaf ears and we need your help to advocate or guide us with this situation. 
We understand if they say we ca n't afford this loan anymore, but we are not asking asking for something impossible, but rather an attainable and fair solution. 
