"So they basically send in the authorization to be able to speak on behalf of seller to help figure out what the delay or problem is in the process. In my opinion the lender/servicer probably can't believe they're calling them either…"
"Wow, that's incredible. I guess I still can't believe that a senator's office would get involved in a residential short sale. Do you know what exactly they did, other than just saying "Hey, this is Senator Dean…"
"Thank you. Your comment prompted me to do some additional digging, and I found that the seller was served a lis pendens in August 2016. I was able to find additional court records showing that the bank is trying to foreclose on them, with the…"
"Got that. So, if a PC is say $2,000 and the seller is eligible for relo assistance, then I guess the seller would receive $1,000. Is that right? Either way, this seller cost would be $3,000 or more, depending on the amount of the PC, so it looks…"
"The owner-occupant mortgagor may apply the $3,000 consideration to resolve junior liens and to offset the sales transaction costs not paid by HUD (including a home warranty plan fee, costs of optional repairs, and buyer’s closing…"
"In Mortgagee Letter 2013-23, the only disqualification for the $3k relo money that I see (assuming the seller has not already relocated) is sellers required to make a cash reserve contribution. Then the wording was updated in ML 2014-15. But maybe…"
"I agree with Brett. I would also ask to see the Sales Contract Review (HUD-90051). The seller should be given a copy of the ATP and Sales Contract Review. Looking at the numbers, though, if the seller qualifies for the $3,000 relocation assistance,…"
"I just had a short sale denied by Wells. Wells told me the FMV was 181500 and asked me to price it according. Offer was $172000. Net including full payoff of a HUD partial claim was well within the 88% guideline but Wells said HUD denied…"
"I just had one denied by Wells. Wells told me the FMV was 181500 and asked me to price it according. Offer was $172000. Net including full payoff of the partial claim was well within the 88% guideline but Wells said HUD denied the…"
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