Foreclosure, Quit Claim, and Refinancing in New Jersey

[curiousnj]

Is it possible to quit claim a property once approved for a short sale deal, and then the new owner refinance the property right away to pay the short amount to the Sellers' original Mortgage company (in New Jersey)?

[Mr. Knowitall]

How would you achieve that without the cooperation of the original mortgage lender?

[curiousnj]

My thoughts were that if the original mortgage company agrees to the short sale amount than where the money comes from should not be the issue. There is not a lot of time working for this particular case. 1st they would send over short sale package to original mortgage company; Once approved, they would quitclaim deed over to buyer; then buyer would refinance and pay the original mortgage company; the new buyer would then move in home. Has this ever been done?