Similar scenerio as below. Multiple offers at $110,000, appraisal came back at $120,000 which was already approved once appraisal was received. That was beginning of August so re-listed the property at $120,000. We received 2 offers right away. Submitted best offer, and of course, started over. August and September passed us by. Called and sent emails almost daily. Found out middle of September, a 2nd appraisal was ordered which came back at $130,000. The first appraisal was still good as it was done in April, 2016. Have no clue why the 2nd appraisal was ordered. I received a letter that the $120,000 offer was declined as the bank's net was too low.

I argued that the first appraisal is the one which should be used as HUD already approved the price of $120,000. Negotiator filed a variance to use the first appraisal. In my mind, a variance would not be necessary.  I was told it would take 7 business days to receive a response. That would have been around September 21. I contacted HUD and filed a complaint. They did nothing. I contacted escalation and they did nothing. On October 4, I received a letter stating we should have a response by October 17. That has passed as well.

I also contacted the attorney for Wells Fargo to see if they would help to find out what is going on. I do not even know if HUD received the variance request. Of course, no response!

Where do I go from here? Any contacts you can provide or suggestions, please contact me.

Thank you.

Views: 86

Replies to This Discussion

Same thing happened to me.. Kept being given a new reply date for 3 months plus. I just kept using Twitter to escalate to executive offices. If I did not receive a reply, I would file another twitter e

The problem with shooting yourself in the head, which I must admit has been an option I have briefly considered from time to time during an FHA short sale, is that then you are no longer able to communicate with anybody about anything, and it won't do a darned thing to change how the government runs its screwed up FHA short sale programs.

It doesn't seem to matter which servicer is involved, all of the FHA short sales I've ever closed have made me want to throw myself over a cliff for the sole reason that I do not own a gun, and it seemed the fastest way to put an end to the insufferable misery caused by these transactions.

All of the negotiators are absolute idiots they found washing floors at a McDonald's when the banks realized these workers had potential because they knew the precise locations in which to place WET signs DO NOT ENTER that are designed to force a nursing mother with tots in tow to scramble across the street to the closest gas station.

I despise them all and the donkeys they rode in on, yet, I continue to take on FHA short sales, which tells you I must need my head examined as well. I feel your pain, Robin. 

Escalate

Escalate

Escalate

It's like simplify, simplify, simplify, but the opposite of Thoreau.

And this just made me want to cry...... We are just starting our process with an FHA short sale with Wells, and who knows how long it will be before we hear anything from them....

**grabs tequila**

RSS

Members

Badge

Loading…

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************