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M&I

Members: 26
Latest Activity: Nov 13, 2012

M&I Short Sale


E-mail Addresses: [email protected]
Negotiators numbers: 262-814-xxxx

Discussion Forum

Has anyone successfully completed an M&I short sale?

Started by Elise Fay. Last reply by Guy Lofts CRS Jan 11, 2012. 3 Replies

My client called me today and wanted to know about M&I Bank's track record with short sales. He wanted to know if it is better to just walk away. Has anyone received an approval letter from…Continue

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Comment by Tamara Pipkin on September 18, 2012 at 9:04am

I have a short sale second with M & I Bank the first with another bank is not a short sale. Any one have any advice from a previous experience?

 

Comment by Guy Lofts CRS on December 13, 2011 at 1:35pm

Anyone have a senior official to speak with at M&I

Comment by Guy Lofts CRS on December 13, 2011 at 1:34pm

Doing a second with M&I, now BMO Harris.   Pretty good.  Very picky on the HUD, no warranty and could not force thru 6%.  Once adjusted on HUD (told my seller to bring 1% to closing for realtors)  The approval came in 1 day.   GET THIS!!

second loan, payoff is $8,000 on $80,000.    TOTAL APPROVAL no deficiency, no note.  

Here is the weird thing.   WILL NOT NEGOTIATE HOW THE CREDIT IS REPORTED FOR PAYMENT OR NOTE

Comment by Justin Sciranko on December 9, 2011 at 11:00am

Does anyone have the fax line for their equity line department? Thanks for the help!

 

Comment by Stephanie Lim on June 24, 2010 at 7:25am
We got an approval on an M&I a couple of weeks ago. It is the same one that M&I has wrecked prior deals on after we had 1st lienholder approval. They wanted approx 10% at closing and won't agree to waive deficiency. Attorney is trying to get that negotiated out but so far no go. This is the first time we were assigned to a new negotiator. Our other attempts were with the same guy referenced on my 12/9/09 post. This new negotiator made all the difference! Not sure if it's a kinder, gentler M&I or strictly negotiator related.
Comment by Karyl Moore on April 18, 2010 at 1:10pm
We closed two vacant lot sales with M & I. They were fast and friendly but VERY firm on what they would take or not take. Also, a local attorney told me M & I is actively pursuing deficiencies on vacant land short sales.
Comment by Guy Lofts CRS on December 9, 2009 at 7:34pm
We had a very tough time with M&I It was on a first and second. didn't close on the final day, the next day we find out M&I had sold the loan. So we had to find out who to. We were able to close through a huge effort all round.
In general, they are very tough to negotiate. almost like they don't care if they foreclose.
Comment by Stephanie Lim on December 9, 2009 at 7:13pm
Please pipe up if you have any more info. In my experience with them they actually contacted us. We have dealt with them on the 2nd. Called us and started negotiating with us without even having an authorization. Kept changing the offer and would never put it in writing. We lost first lienholder approval trying to get them to put something in writing.
 

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