Hello,

I was curious if other members have recently been successful in appealing to Freddie Mac allow more than $6000 to a 2nd. I have a WF 1st approval and Ditech 2nd, borrower has some assets and 2nd won't budge below $15k and really will fly the plane into the ground. I've escalated with them repeatedly and truly believe them. Parties are willing to contribute/buyer will raise offer but, of course, no luck with WF.  I've submitted an auth to Freddie and just getting going but thought I'd gain some collective wisdom. Thanks!

Views: 28

Reply to This

Replies to This Discussion

No, never heard or seen FHLMC allow more than 6,000 to a subordinate lien as that's a hard set guideline. Generally you need to get the subordinate liens to play ball with FHLMC guidelines. At times 2nd's will try to get people to step into the grey zone of contributions. Be wary.

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

Same here but thought I'd check. They aren't budging. Yeah, we're not going into contribution land. Thanks very much for your reply. 

RSS

Members

Badge

Loading…

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************