Hello,

I don't really know where to go for help so I'm giving this group a try. My story is this: In October of 2010 I entered into contract on a short sale for a property in Suffolk County New York for which the mortgage is serviced by Central Mortgage Company, and Fannie Mae is the investor. It is now August of 2011, and I have still yet to hear anything from Central Mortgage Company. I have only heard through the seller's agent that the file has been closed numerous times for lack of paperwork on the seller's side. Each time the seller's agent assures me that they promptly submit the paperwork in question, which is usually updated bank statements, etc. Then the waiting begins again until they close the file the next time, request updated bank statements again, and so the cycle has gone for the last 10 months.

 

I have tried contacting both Fannie Mae and Central Mortgage Company, knowing they will not talk to me, but asking them to make a note if possible that there is a very eager buyer wanting to buy the property who has a mortgage commitment, not just a pre-approval. However, that of course has gotten me nowhere. My attorney has advised me there is nothing I can do but wait.

 

Now at this point the property has been vacant for a while, the yard has become over grown, the county and town have been leaving violations which go unanswered, but the bank is doing nothing. This house is now an eye sore in an otherwise beautiful waterfront neighborhood on Long Island.

 

Bottom line is, does anyone have any suggestions or advice? I'm now trying to decide if I need to give up, questioning if they will ever give any answer. Is this normal for short sales from Central Mortgage?

 

Sorry for the long winded post, and if you got to this part, thanks for reading it! I look forward to any advice or suggestions!

Thanks,

Matt

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Replies to This Discussion

Hi Matt B,

 

There is limited information that can be provided to anyone not specifically authorized by the borrower of the loan.  However, if you'd provide the actual property address and your contact information to the following email address at Central Mortgage they will provide what information is possible.  The email address is [email protected]

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