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Help Me!

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Green Tree Fannie Mae 1st Ocwen GMAC 2d

Started by mike romone. Last reply by Kelly Magreevy Oct 12, 2015. 44 Replies

MIDFIRST BANK

Started by Bob Helmig. Last reply by Brian Avery May 7, 2015. 8 Replies

Need contact # for Guaranty Bank please.

Started by Evelyn Broxterman Sep 3, 2014. 0 Replies

Bank of America servicing USDA

Started by Jeff Struchen. Last reply by Jeff Struchen Aug 7, 2014. 2 Replies

SAFEGUARD BREAK INS

Started by BARBARA WING Mar 20, 2014. 0 Replies

Short sale finally closed now what......

Started by Cassandra Lynn Crull. Last reply by Brian Avery Feb 27, 2014. 1 Reply

Indymac/One West Bank- Urgent

Started by KIM KISER Jan 17, 2014. 0 Replies

Everhome Offer 109K above offer on short sale!

Started by Mark Gottlieb. Last reply by Mark Gottlieb Jan 12, 2014. 4 Replies

Mortgage Debt Forgiveness expiring, what to do?

Started by Carl Landella. Last reply by Richard "RJ" Kas Nov 11, 2013. 3 Replies

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Comment by Wendy Rulnick on January 14, 2014 at 5:09am

D'Adrea - the seller or buyer could settle with the second prior to closing. This might be difficult to arrange, but it has been done.  Check with your title agent.

Comment by D'Adrea Davie on January 10, 2014 at 6:53am

I currently received a short sale approval with Ocwen who is willing to pay the second no more than $3000.00 to the second lien holder, who is Carrington Resolution Services (CRS). CRS stated they are not willing to accept nothing less than $10K, which I was recently able to negotiate down to $8,500.00. The buyer is willing to contribute the difference of $5,500.00 However, when I turned in updated HUD1...Ocwen was not willing to accept due to the second receiving more than the amount they allotted for $3,000. I am seeking any suggestions to be able to complete this short sale. Any help would be greatly appreciated.

Comment by Clarissa Van Den Bogaert on October 10, 2013 at 3:10pm

"HELP! I have a loan with PNC and they denied the file due to a sale date of 10/29/13. The second loan OCWEN has issued an approval with a close date of 10/22/13 and I need to get PNC to reopen this file again so that I can try and obtain an extention from OCWEN. PNC received all required docs again on 9/25/13 and on 10/7/13 they denied the file saying that they did not have the required days to view the file.  Freddie Mac is the investor and I need to locate the correct division in Freddie Mac. I have called 4 different numbers and on each one there were no options giving me the correct department for loss mitigation. Can someone please help me locate a good number that will get me to the correct department. HELP"

Comment by joe beauchamp on September 25, 2013 at 11:30am

MIchelle, the agent either misunderstood the bank or just committed fraud following the bank's fraudulent directions. I've seen agents claim that a bank wants this, don't know which is the case and have had plenty of invalid info from banks to not know which is the case. It is fraud to sell a property to 2 parties at the same time. You can have backup contracts, but only 1 real contract at a time. Banks will sometimes ask for the best offer, usually they go the other way and only want to be informed of and work on 1 offer at a time. On the other hand, with the banks making SS's so hard to work, it probably doesn't matter in practicality. Many buyers walk away in disgust because of bank delays, many banks come back asking for 20% or more over market value (at which time, something has to be negotiated, and many buyers will, again, walk away in disgust). So, you often end up with no buyer anyway. I think you can see where it is easy to be confused, and many agents, at first, believe that a bank is working with you so will believe what (they think) they hear. But, it is real estate 101 that only 1 contract may legally be in force at a time.

Comment by Michelle L. Dahl on September 25, 2013 at 10:59am

Quick question. The seller of a short sale signed off on my buyer's offer along with four other offers. So, four of us have fully executed from the seller. The listing agent said the bank instructed them to do this. Has anyone heard of this? 

Comment by Kevin - Greenville, SC on September 24, 2013 at 9:15am

Robin,

Did you file your complaint at the www.homepathforshortsales.com website?

Comment by Robin Lemmons on September 24, 2013 at 9:13am

Desperately need help with FNMA. They have overvalued 2 of my short sales by $100,000. Does anyone have an upper management contact at Fannie Mae for the dispute. I filed disputes a few weeks ago with no response. Sheriff sale is scheduled for tomorrow on one of the properties and FNMA declined the file yesterday because of their ridiculous value.

Comment by Jan Sanderlin on June 22, 2013 at 9:16pm

Hi Superstars! I have a Citi 2nd lien that is due to be charged off on Monday June 24, 2013.  I have reached out to Jan Brown (fha) and Robert Art (risk management) both have declined to extend the time to close which is estimated to be 7/2 or 7/3...So close and yet so far...Anyone have a contact for Citi's executive offices or anyone else that maybe able to help???  HELP!!!  Thank you in advance!!! 

Comment by Lillian Blessing on June 20, 2013 at 6:49pm

I got a call from a gentleman who included his home in a bankruptcy.  Select Portfolio Servicing who has been a contact for BAC on a short sale file for me sent him a letter offering a loan modification if he would make 3 payments of a specific amount and then reduce his mortgage by an amount that would bring it to fair market value..  They quote "U.S. Department of Justice and State Attorney General Global Settlement"--  It seems fair, but googling Select Portfolio Servicing and their making the same offer to people. .  results have been scary.  So.  As Bryant says, remember we are NOT attorneys.  Any experience with this?  Thoughts?   Any input would be appreciated.

Comment by joe beauchamp on May 8, 2013 at 7:13am

Jeanette, I can't help with a US bank number, I don't do those in my office. However, I think some adjustment might be useful. If you have been on this 18 mos, 3 buyers and haven't escalated once, I think you are expecting too much logic and ethics from a bank. They are driving trucks throw the holes you've left.

Foreclosure doesn't bother them, it makes them money, short sales lose them money - they are not your friends. They also do not project in your favor, partially because they shouldn't. What are the financials NOW, not in the possible future of all things possible.

Usually, knowing the investor is crucial. The bank is supposed to work for the investor and often imposes its own incorrect rules upon you. Going to the investor can often be your best step when you hit a servicer wall.  It seems that you are hoping for a phone number of some ethical nice person at US Bank. And this person exists, why? Unlikely.

Look at your situation from the eyes of someone who wants to kill the deal and requires effort to be pulled out of a myopic view of the situation and you could find things to help. For instance, do you know why they say there is too much cash flow? If the homeowners are paying on time, why should the bank want to stop that? Cash flow is wonderful. Don't look for compassion, look for tangible concrete information which supports your view. You say things will be worse in the future, so? The bank sees that as keep grabbing the money until then - it isn't now (again, I have to partially agree with them).

 

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