Good morning! I have a short sale with PHH that I can't seem to get done. We've had 2 offers. One was low and one was reasonable. They will not budge off of their value. There have been value disputes twice and nothing has changed. I can't seem to get anyone to come see it at the approved price, let alone put in an offer. The heater is not working because of a repair needed and I believe this is causing the value to go down further than what the BPO and/or appraisers are saying. It's been on the market for about a year now. Any suggestions or ideas? Right now I feel like they'd rather foreclose but I've provided enough evidence to show them that if they do, they won't get their number.
Thanks in Advance!
Kimberly, I'm glad someone has posted something / anything about PHH. I have one with them right now and they have countered the current offer. This property has been on the market 175 days @ $219 and we have an offer of $210 - PHH has countered at $220K - Buyer / Investor will not budge. Buyer / Investor already owns 5 SFRs in this 42 home gated development in a Desert vacation community. We are currently in "high season" but still no other showings. Now, we cannot reach or get a response from our negotiator. In the past couple of months PHH has sent 2 Denial Letters when they didn't get a document from the Seller or from me within 24 hours. Oddly, they used an incorrect Investor name on both letters ! I think PHH is still as messed-up as the rest of the servicers were back in 2006.
Good luck !