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nationstar short sale

Posted by Reta Stead on July 30, 2013 at 2:25am in Short Sale Discussions

Has anyone else been having problems with Nationstar they took over a lot of loans from BOA I just received a counter offer on a property (short sale) they want the seller to come up with 36k and also came back 23k over contract price which area is not close to appraising at this amt. please let me know if anyone else has ran into this problem with this bank? and if so how did you handle it.

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Replies

  • Jonathan Katz July 30, 2013 at 9:48am

    Reta,

            Do you know why they feel the seller has 36k available? Are they asking for a contribution to waive the deficiency? Is it possible for them to take a note for less?  In regards to the purchase price you need to do a value dispute. You can look into completing  a value dispute now, or potentially in closing if the property doesn't appraise. You need to find out what the minimum NET the investor is willing is approve, so you have a better idea of what is really going on.

    If you have any questions feel free to reach out to me as my door is always open.

    310-564-6389

    Brett@ishortsalenow.com

  • Wayne Brooks July 30, 2013 at 2:43am
    Depends on who the investor is. If Fannie or Freddie, go through their specific value dispute process. When they ask for the Seller to come with $36k, they either think, or know, the seller has a big chunk of cash available.
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