Saxon Mortgage- Help... Cash Contribution and Promissory Note
I have a short sale with Saxon since April and I finally got a negotiator - The seller is actually collecting unemployment and barely making it. Now Saxon in Highbridge wants the seller to contribute $2000 at closing and sign a promissory note of $22K.. I informed him that the seller is unemployed and has been for about a year now, so he does not have $2000K heck he does not have $500 in his account, so he said well the buyer or the agent can do the contribution at closing.. I informed him I cannot contribute,that does not make sense, if the buyer is going to contribute they have to increase the sales price, but that is the decision the buyer has to make. Any one deal with this kind of situation with Saxon? Any help is appreciated.
Thanks much
Replies to This Discussion
-
Permalink Reply by Deidre St. Romain on
-
Keji: I have had success with having the homeowner call and talk to the negotiator. Sometimes they will not listen to you but if the homeowner calls and explains their situation (lay it on thick) the negotiator will be more responsive. Regarding the buyer or Agent contributing at closing just say NO. Don't address it at all but if he brings it up just say simply "NO". Don't try to explain or protest. Hit him with figures - I use a service called LPS that runs a value of the property now as opposed to the REO value. Inundate him w/stats from the MLS, etc. Don't give up. Flood his email, his voice mail if he doesn't listen to reason and then go to the supervisor. DON'T take NO!!
You can do it!! -
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons