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.
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.
they should be following Freddie Mac's guidelines for a short sale (you can google those). escalate to Freddie Mac where necessary - [email protected]
Just an update to help anyone else who wants feedback about how it goes with Plaza Home Mortgage.
After the negotiator read the short sale package he agreed to postpone the 2/23 Trustee Sale for one month!
And they told me I could file a BPO dispute, which I did and will be reviewed.He told me the offer was 'declined' but why do I have an inkling the committee may be reviewing it? :)
He said we have until 3/4 to get the buyer to come up in price. He never came back with a counter.
I'll wait for my BPO dispute to be heard. I know the offer is over the actual value because it is
a true fixer and their value is based on optimal remodeled condition. My dispute shows all that.
So things are definitely looking up. Thanks all for your help!