I have a file ... Chase is the 1st and 5th 3rd is the 2nd ... our contract will pay the $615K to Chase and will give 5th 3rd about $80K ... the sellers have agree to a Promissory Note of $70K (their balance with 5th 3rd is $320K so they are ALMOST GETTING 50%) NOW that the Sellers have agreed to the extra $70K they NOW WANT to put a LIEN on the people's oyher property for $240K and will not do the afore agreed upon PN???
Talking about NOT HELPING somebody ... HOW THE HELL can they expect to be made 100% WHOLE when EVERYONE has to take a hit and play FAIR ... my sellers are in their 60s and have decided to let Chase FORECLOSE and then they will file BANKRUPTCY and 5th 3rd will get NOTHING???
I wonder what kind of banker wants ZERO THOUSAND as opposed to $80 THOUSAND PLUS a PN????
This is a first for me and I have been doing this for over 4 years???????
Fifth Third Bank IS DELIRIOUS?????
I have a similar situation, I guess 5th 3rd has a pattern here. 5th 3rd wants it all, and insists on the seller encumbering his personal residence up to 140% LTV by transferring the deficiency from the short sale house to his personal residence.
Any assistance in escalation would be greatly appreciated. I am trying to help a hard working American family. I am also trying to help 5th 3rd reduce their losses but they are refusing to be helped.
My full post can be read here http://shortsalesuperstars.com/group/fifththirdbank/forum/topics/5t...