All Discussions Tagged 'short' - Short Sale Superstars2024-03-28T12:02:29Zhttp://shortsalesuperstars.com/group/freddiemac/forum/topic/listForTag?tag=short&feed=yes&xn_auth=noPlaza Home Mortgage handling Freddie Mac loantag:shortsalesuperstars.com,2015-02-01:3468065:Topic:3621842015-02-01T17:21:47.082ZL Brownhttp://shortsalesuperstars.com/profile/LBrown
<p>We're initiating a short sale with Plaza Home Mortgage and were surprised how quickly they filed a Notice of Sale after the loan mod failed. They are quoting 23 days to auction.</p>
<p>This is a Freddie Mac loan. Anyone familiar this institution and how it goes with a FM loan under them? Can't find anything on them re short sales on the internet.</p>
<p>We're initiating a short sale with Plaza Home Mortgage and were surprised how quickly they filed a Notice of Sale after the loan mod failed. They are quoting 23 days to auction.</p>
<p>This is a Freddie Mac loan. Anyone familiar this institution and how it goes with a FM loan under them? Can't find anything on them re short sales on the internet.</p> Freddie Mac wants cash @ closing, but not allowing cash to 2nd lendertag:shortsalesuperstars.com,2011-02-22:3468065:Topic:733662011-02-22T22:23:36.415ZJennie Blackburnhttp://shortsalesuperstars.com/profile/JennieBlackburn
<p>Provident 1st, 3rd Federal 2nd. Freddie Mac is investor on 1st. Freddie Mac wants cash from seller @ closing, which seller is fine with. In the middle of negotiating the amount, I mention that the 2nd is also requiring cash $1,000 at closing. Here is what negotiator says:</p>
<p> </p>
<p><font color="#000000" face="Verdana" size="2">"The second is only allowed $3,000, is the second requesting $4,000? If that is the case then no, we cannot approve that. The investor won't allow more than…</font></p>
<p>Provident 1st, 3rd Federal 2nd. Freddie Mac is investor on 1st. Freddie Mac wants cash from seller @ closing, which seller is fine with. In the middle of negotiating the amount, I mention that the 2nd is also requiring cash $1,000 at closing. Here is what negotiator says:</p>
<p> </p>
<p><font color="#000000" face="Verdana" size="2">"The second is only allowed $3,000, is the second requesting $4,000? If that is the case then no, we cannot approve that. The investor won't allow more than $3,000."</font></p>
<p> </p>
<p><font color="#000000" face="Verdana" size="2">I had this once with a Fannie Mae deal and, through our local real estate board, was able to go directly to FM and make this issue go away. Do I go over negotiator's head within Provident or go straight to Freddie Mac? </font> <font color="#000000" face="Verdana" size="2">Any contact info or suggestions?</font></p>
<p> </p>
<p><font color="#000000" face="Verdana" size="2">Thank you for your help!!</font></p>
<p> </p>
<p><font color="#000000" face="Verdana" size="2">Jennie Blackburn<br/></font></p>