Comment

Comment by Thom Colby CA Brkr 888-391-5245 on December 6, 2011 at 4:14pm

Stephanie -

 

Send ING a copy of SB458 and SB931 and tell them they can either approve the short sale or decline it but they CANNOT request either a contribution or a note from the seller. 

 

Your seller may have bigger issues if he/she has money on deposit with ING.  There's a term called "right of offset".  A bank can "take" funds on deposit with them to cover debt that is owed to them.  see below.....

 

No one should have deposits in the same bank as where they have borrowed money.  The most popular example was a yound lady who missed a student loan payment because she moved and her savings account was cleaned out by the bank to pay down her student loan the day before she was to close on her new house - that was a bad day......

 

http://www.helpwithmybank.gov/get-answers/bank-accounts/right-of-of...

Answers about the "Right of Offset"

May a bank take money from my deposit account to make a payment on a loan that I owe to the bank?

Usually, yes.  Generally, a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank, such as a car loan, if you are not paying that loan on time.  This is called the right of offset.

In some situations, the bank can exercise the right of offset without letting a customer know in advance that it is going to do it.

However, federal law limits what a bank can do in some cases.  For example, federal law won’t allow a bank to offset your deposit account to pay off your consumer credit card account.

 

Comment by Stephanie Greenberg on December 6, 2011 at 10:39am

I have ING on a HELOC.  Buyer also has savings account that has a nice amount of $ in it.  Owes $15K to ING.  BofA on first and BofA has agreed to a sale of the property for $40,000 and will give ING 6% of balance which is $975.  This is all the investor will allow.  Seller has agreed to sign an agreement with ING to keep paying on the HELOC if they release the loan.  ING says "OK" but we want $1,000 from BofA.  I can not get anywhere with them!  The investor on first will not allow a contribution of $75 from any party.  ING is willing to loose everything over $75.  The money in the sellers ING bank account is going to be used as he will be on a leave of absence and will not have any income in and he has not been late to ING so ING is using this against him.  I let ING know that in CA we can not ask the seller to contribute and was told that they did not have to approve the short sale.  True but ridiculous.  Any suggestions?

Comment by Bill Garrett on October 13, 2011 at 11:40am

Has anyone observed any changes in the usual ING positions since the Capitol One takeover? 

Comment by Terry Parrish on August 31, 2011 at 7:29am

Hello - An FYI: Just contacted ING, my first short sale transaction with them, just listed this home.  The phone # for the loss retention Dept is 888-464-6118, the contact info provided on this site  is for their Sales Dept. They told me the Borrower needs to call them, initiate the Short Sale process, and they will mail them direct what they need to provide to them.  I faxed the ATR, they said it takes 5 business days to upload in their system.

Comment by Angie Branco on August 1, 2011 at 8:23am

Has anyone been successful in fighting ING's demand to use ULS title services?

Comment by Bryant Tutas on July 13, 2011 at 1:25pm

Hi Angie. I just added some new numbers to the group. See if these work. If you do get new contact info pop me an email at [email protected] so I can update the info

Comment by Angie Branco on July 13, 2011 at 11:49am

I called the 302# and it went to someone named Kilar's voicemail. Does anyone have #'s to someone I can actually speak to? Any help would be appreciated. Thank you.

Comment by Trish Friberg on June 19, 2011 at 3:42am

ING now demands that we take 4% commission and the sellers pays $5,000 towards closing costs or they will foreclose.

WOW! Very frustrating!

Comment by James L. Bilotta on June 16, 2011 at 1:25pm

Two Comments:

ANNOUNCED TODAY: Capital One to acquire ING Direct for $9 Billion in Cash and Stock.  Maybe Capital One will be more reasonable.

 

IMPORTANT:

See my "BANNED BY ING DIRECT" comment here and maybe give some advice:

This is a Short Sale Superstars Blog but under a different catagory.

http://shortsalesuperstars.com/profiles/blogs/banned-from-working-w...

Comment by Trish Friberg on May 2, 2011 at 6:15am

This is the latest I got this morning............Have any of you had ING try to cut your commissions and threaten you to close the file?

 

 

            The last update from the credit review committee is as follows:

 

 

$5,000.00 from the seller at closing
4% commissions; spilt any way needed

This is ING DIRECT’s final offer to approve the short sale, and is non-negotiable.  Please talk to all parties to see if this is possible.  If not, the file will remain closed. 

 

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