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Nationstar shortsale...Buyer using Nationstar for new loan

Posted by Alicia Messa on March 15, 2013 at 4:17am in Short Sale Discussions

UGH!! This was a very very bad idea!  Should have never let buyers do this, but they wanted to because it was the only way Nationstar would pay their closing costs.

I need help here...has anyone else experienced the buyer using Nationstar for their new loan?  How did it go?  Does anyone have suggestions on how to get them to just communicate what is going on with the loan?  If anyone has a contact of someone at Nationstar that might be of some assistance, I sure would appreciate it.  We are supposed to close escrow on the 18th, but we don't even have loan approval yet.  Help!!  Our short sale was approved way back on 2/7...

Thanks for your help,

Alicia

425-919-9302

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Replies

  • Shel-lee Davis March 17, 2013 at 5:01am

    I had a Nationstar with Nationstar doing the loan.  I had direct contact with the Buyer's loan rep, even though I was the listing agent.  (You just have to ask for it.)  They worked with us on getting short sale approval extended to accommodate the lending timeline (which can be 60 days), saved the buyers 3% towards closing costs, were competitive on rates, etc. and my seller still got the HAFA cash incentive.  All in all, slow by highly effective.

    • Mary Fusinski > Shel-lee Davis March 17, 2013 at 6:58am

      I have had issues with some lenders and went to the CEO's office for assistance.  The admin to the CEO was a big help getting things done.  

      • Team Musser > Mary Fusinski March 17, 2013 at 11:19am

        I would reach out to the Loan Officer, get an extension request with an LOE, and upload that in Equator with an extension addendum and new HUD.... good luck!

  • Kathleen Lordbock March 16, 2013 at 5:35am

    Just closed on a NationStar short with a NationStar loan for buyer. Went very well and we reduced the offer price to what NationStar short gave as their necessary net  so that it would appraise (FHA NationStar loan) .  Great!!!

  • Sheyenne Schultz March 15, 2013 at 9:51pm

    Now they've GOT YOU on BOTH ENDS.....  hmmmmmmmmmmmm

    so sorry:(((

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