I came to the MetLife discussions 2 weeks ago for tips since I was getting extremely frustrated. Surprisingly, I just received an approval in less than 60 days so I thought I would spread a little hope....

 

Faxed in the short sale file in the first week of April. It was assigned to a negotiator on 4/11. Although, it took over a week to confirm receipt of the fax, I had no trouble with lost documents and only had to send the packet once. I was never allowed any direct contact with the negotiator. File notes showed he requested a BPO order on 4/23 but I had to eventually escalate on 5/3 to get it ordered. It took until 5/16 to confirm it was received. Still no communication with negotiator.

 

On each follow up call from 5/16 to 6/7 I was told the "BPO is still under review". I escalated again on 6/7 and by the end of the day received a call from the negotiator that the short sale was approved.

 

No contact from the negotiator. No counter-offers. No deficiency. Now I just have to get the Equity line to accept the measly 6% contribution Fannie Mae wants them to have (yea, right!).

 

I don't like having a short sale under review for almost 2 month without knowing what's going on, but in the end this was one of my easiest approvals. Just don't expect to hear anything until the negotiator has made a decision and make sure you get all of your documents in at once because anything else you have to send will take 7-10 days to receive.

 

*Note- I was told on many occasions that emails were being sent to the negotiator or the file was being escalated but you can tell when they are just trying to get you off the phone. You have to convince the person on the phone to ask their "team lead" to contact the negotiator's supervisor. Each time we did that, my file made progress within 24 hours.

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UPDATE!!

So we had to make some revisions to the contract and HUD to get 2nd lien approval. The MetLife negotiator indicated in an email to me on 6/9 that the investor had approved the changes. As of 7/8/2011 we are still waiting for an updated approval letter so we can schedule closing. I've been calling, emailing, faxing and escalating for 2 weeks but with no response from anyone.....

 

 

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