Reno Short sale
Well here is one for the books ,after 9 months of fighting with Chase and taking them too medition (as nevada has now). 10 mins into it Chase approves the short sale. (after 9 months of NO answers on any phone calls) Now the 2nd lender US BANK had already approved a 5000.00 pay off months before, so thinking all we need was a new letter with a new close date, no THEY DECLINED IT AND without full pay off at closing which was only 13,000.00 ,even with the seller willing to sign a note for the balance. STILL no ,so after 9 months the deal will go to foreclourse and force the seller into BK. No one gets anything????
Replies to This Discussion
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Permalink Reply by Jeffrey Smith on
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If Obama wants to help everyone, why not force 2nd lien holders to accept maximum $2,000 or face charges such as blackmail or conspiracy. 2nd lien demands have gone beyond absurd consideringthey knew the risk they were taking when they made the greedy loan. This applies doubly when the seller is willing to sign a note for the difference or they are only retaining their rights to pursue deficiency (the same as in foreclosure) in judicial states.
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Permalink Reply by John Treadwell on
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Just had another one on a 2nd demand 40,000 of a 47,000 2nd (they'll let them sign a note). You are right the next thing for Obama will be to stick it to the 2nd lender.
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Permalink Reply by Sam Purtle on
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John
Did you try to escalate this to the negotiators supervisor at US Bank? I for one would fight this one.... US Bank already accepted $5000 months earlier? Crazy. -
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yes I try too ,but I see all the 2nd lender doing this now!
Sam Purtle said:John
Did you try to escalate this to the negotiators supervisor at US Bank? I for one would fight this one.... US Bank already accepted $5000 months earlier? Crazy. -
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Has anyone had Litton Loans decline the short sale ,even though it a good offer ,and told me they didn't want to deal with the investor or the PMI ,so they were turning down any short sales , two more agents in my office had the same??
John Treadwell said:yes I try too ,but I see all the 2nd lender doing this now!
Sam Purtle said:John
Did you try to escalate this to the negotiators supervisor at US Bank? I for one would fight this one.... US Bank already accepted $5000 months earlier? Crazy. -
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Permalink Reply by Jeffrey Burnham on
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That sucks!! There doesn't seem to be a soloution... too bad this type activity doesn't affect their TARP $$!
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