I have a quickly pending foreclosure and need some advice. Have a contract in place and buyers ready to go. Received a call 2 weeks ago from my negotiator stating that we had a foreclosure coming up and she was ready to issue an approval letter with 2 weeks to settle. The buyers are financing the purchase and they need a little more time. Also, there is a tax lien of several hundred thousand dollars that will be cleared at the end of April, but we couldn't settle until the 30th of April. Negotiator advised she would talk to her supervisor then promptly went out of town last week (at least that is what her email said). I've been calling every contact I have trying to get this thing stopped- we have about 36 hours from the time I'm writing this. It seems that no one at that bank has the ability to do anything. Does anyone have any advice on how I can get this foreclosure stopped. I'm so frustrated, especially since we are so very close. Please advise. I'm desperate.

Thanks for your time,


Ann

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If this is a Fannie or Freddie have you tried to contact them? Is this the first extension on the foreclosure? Is there anything in writing to state the debt will be settled at end of month? I'm surprised they won't extend to accommodate the short sale if all the pieces are there to conclude. Also, if this is not a cash buyer, loans take 30 days. It's hard to imagine the lender doesn't understand or work within those timing guidelines. Do you have a single point of contact and do you have their supervisors name? I'm sure you probably already tried that but that's the routes that I've taken in the last that seem to work. What about the closer? Can they do anything?

You can email me off here for details -

[email protected]

but it is literally just a matter of going up the food chain at Suntrust, or finding out who the Investor is and contacting THEM directly.

Dealing with the lower level persons when you NEED to make things happen will only make you nuts!!!

Best of luck

Ben Benita

[email protected]

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