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Franklin Credit Management Help

Posted by Trong Dang on May 10, 2013 at 6:35am in Short Sale Discussions

I just got an approval letter from Franklin, 2nd lien, saying that they will only release the trust/lien, but will reserve all the rights to pursue the defiency.  I have called and tried to talk to a manager and he said that Franklin DOES NOT waive their deficiency rights, is this true?  Is there any way to get around this?  Or is this their bluff? 

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Replies

  • Tiffany Abbiate April 28, 2015 at 12:17pm

    Were you ever able to get in touch with anyone that knows what they are doing at Franklin? Because CLEARLY the people answering the phones - calling themselves negotiators have NO CLUE. Need help asap ...

    We have a Sale date Thursday and they just declined my file (they are actually going to go through with a FC as the 2nd lienholder). They never even had an appraisal completed (or a BPO for that matter - so I assume they are using Zillow?!) and are claiming they actually have equity ... oh my goodness - I literally feel like  I am on candid camera!

    HELP!

    TIffany Abbiate 619-8899-7207

    Tiffany.Abbiate@kw.com

  • Nate Gerard May 12, 2013 at 1:57am
    Who is the first? For example, if it is Fannie, they don't allow a short sale to be completed without lien release AND full satisfaction and most seconds will change their tune when they hear this. If you don't have that option you may need to negotiate for an amount that would cause the second to provide satisfaction. Good luck!
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