Comment

Comment by Deidre St. Romain on June 28, 2010 at 3:33am

Yes please share. I got a contact from someone in my office on a loan w/a different lien holder and that contact gave me what I needed when a phone rep who was reading from script and quoting rules would not co-operate. Now I am saving my client from foreclosure because I got a supervisor name who saw the value in not sending to foreclosure...so yes please share that contact!

Comment by Stephen Shafer on June 28, 2010 at 2:16am

Katerina Gasset, You men you call the exec. offices or a particular person? Can you share the contact? I have 3 desoparate files.

Comment by Vicki on June 28, 2010 at 2:13am

Ben: Have you EVER had any luck with getting through to someone after you have already gotten a decline letter?
The last approval letter that we stated said we had to close the same day they issued it.
There was no way we were able to close. Just two days later we got a written decline.
We are all set to close and could close TODAY but we have this decline.
Will we have to resubmit everything or is there someone we can talk to?

Comment by Elaine on June 27, 2010 at 3:13pm

***HELP****
Need advice asap. My short sale with BOA(investor Freddie mac) was finally approved last week and we are scheduled to close this Wednesday. We had a rate lock in on 5/13 at 4.875. That expires tomorrow, 6/28. A while back I asked my Lender if I could extend the lock (back when rates were around the same.. just in case) and was told it will cost me .125% on top of my current rate if they did. They advised me to wait till the very end of the lock to see if I need it.

Now, here we are 4 days before closing, and 1 day before my rate lock expiration. We all know that if rates were 5% or above, come Wednesday that's what I would have been charged since I am outside of my lock. i asked today if I will be given the going interest rates, 4.69%, and she told me no.. HUH!!! She told me they are putting an extension on my lock in of 4.875 till Wednesday. She also said this is one of the laws in mortgages that hasnt changed, and that consumers who lock in keep that lock in passed the expiration date if rates drop..

Is this legal? I have nothing in writing from her that states this. I also can't find anything on the web that states this. This is a difference of $20/mo for my mortgage.

Advice?

Comment by Deidre St. Romain on June 27, 2010 at 12:53pm

Laura: I had one that BOA had for 7 months - they bounced it from them to Titanium NON Solutions, took it back from Titanium after 3 months then spent another 2 1/2 months and by that time the trustee (investor) decided that the loan was too delinquent so they were just going to take it back at sale...talk about a heartbreaker!

Comment by Brigitte Powell on June 26, 2010 at 1:53am

Amy - send negotiator an email on Equator.com and tell her about your second offer and wait for her prompt to let you enter all info again ;-) don't wait too long for her/his response. If you hear nothing after two days send an email to her/him and anyone else on that email list :-)

Comment by Laura Marshall on June 25, 2010 at 5:05pm

Has anyone here contacted FNMA when the servicer is taking too long? I do not think they have ever been in contact with FNMA. If so, how idi it go for you, and do you have any contactinfo that you would be willing to share? Thank you

Comment by Katerina Gasset on June 25, 2010 at 3:30pm

Ben is absolutely right. This is all about negotiations. If you are not skilled in the art of negotiations than you need to take some courses or get some training in negotiation skills. Just because the lender says one thing, does not mean that is the last word. In fact, seldom it is.

We happen to like Equator because we have an executive that pulls our files from equator but she wants them in equator so we do it so she can rush our problem files. We just deal with the executives and they go into equator and then email us direct with their correspondence.

Also, if you have Chase files, their executive division has gotten much better. We are getting their executive office involved as soon as there is a violation of public policy from the lower level negotiators. Not hard to find:)

Comment by Anna on June 25, 2010 at 12:19pm

of course already checked that the loan is not FMNA or Freddie Mac owned

Comment by Anna on June 25, 2010 at 12:14pm

Ben you are the light at the end of my short sale tunnel. I faxed seller signed request to advise investor name and contact info to the nubmer you provided w/805 area code 06/24, have not received any response. Customer service told me the loan is owned by private investors. Called office of president, got case number 06/23 however nobody contacted me yet. I have couple of very small deals 30-40k and it just does not make sense to me what BofA is doing. One of them that they declined this week was approved at 35k in Feb we couldn't close because of delay with Green Tree approval on the second, got the approval from GT but BofA would not extend theirs told me to resubmit through equator and declined because of insufficient offer amount. BofA demanded payoff 20% higher than what they approved in Feb this year and this is in declinign market!! We submitted appraisal, very strong, conservative report and they still declined. So I am at this point just seeking justice for the borrower, buyer and all the taxpayers. I submitted the file on equator again but am concerned that doing same thing over will unlikely get me a different result..:) So..am I guaranteed to get response to investor contact request faxed earlier this week or are there other avenues?? Who else should I call?? Thank you so much for all your info and attitude.

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