I wrote a letter and faxed it to the management at Suntrust on a property that they foreclosed on on April 6, 2010. They had an offer on the property and instead of giving me the option to reduce the closing amount this "analyst" decided that the house should go into foreclosure because the offer asked for 3% and not 1% in closing costs - ridiculous as the buyer could still close with 1%. One of the executives called me back the day after foreclosure as they had received my letter outlining everything that happened from the start of the short sale approval up until the day of foreclosure - he said that they would rescind the foreclosure as we did have an offer. On 4/07/2010 - executive called back to let me know they are in the process of rescinding the foreclosure and to send an amendment and updated preliminary HUD-1 to the same "analyst"and so I did. They are going to approve the short sale and all is well that almost ended horribly. My seller is happy now that his house will not be a foreclosure.
Claudia - good job! You showed great initiative by contacting SunTrust management.
Claudia Carignan said:I wrote a letter and faxed it to the management at Suntrust on a property that they foreclosed on on April 6, 2010. They had an offer on the property and instead of giving me the option to reduce the closing amount this "analyst" decided that the house should go into foreclosure because the offer asked for 3% and not 1% in closing costs - ridiculous as the buyer could still close with 1%. One of the executives called me back the day after foreclosure as they had received my letter outlining everything that happened from the start of the short sale approval up until the day of foreclosure - he said that they would rescind the foreclosure as we did have an offer. On 4/07/2010 - executive called back to let me know they are in the process of rescinding the foreclosure and to send an amendment and updated preliminary HUD-1 to the same "analyst"and so I did. They are going to approve the short sale and all is well that almost ended horribly. My seller is happy now that his house will not be a foreclosure.
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