We were in the process of requesting an extension on our short sale approval because we needed more time for the city to process some paperwork that was file. And the bank said that a short sale…Continue
"Well, what we did was pull all sales in the county from list until CLOSING which wasn't easy info to find, because on our MLS it only lists from list until UA. So we found that traditional sales took an average of 100 days from LIST…"
"Interesting. What if they could argue that "we did have enough time" What do you feel the results would of been then? I had two approved short sales die because of this guideline when the buyers fell through."
"JUST FYI we had this happen on our files. Complained to cfpb and SHOWED them that it was impossible to list, get under contract and sell a short sale in the time SPS allotted. Also sent to AG's office. Now all four files are being…"
"Evey file with SPS is a battle now. You have to file complaint with CFPB and your AG's office. Get the prior documentation that shows what the prior short sale period was and what was allowed and then research it and compare it to…"
"Hi, call the consumer ombudsman department and explain what’s going on. See if they can step in and help. When things are escalated through their department, they are able to reach out to higher contacts. I’ve only had to utilize them a…"
"Hi Adriana i think you are getting misinformation from SPS First, they would have already had to review the homeowner for home retention(modification) prior to opening a short sale workout. I have negotiated several short…"
"it was a garage conversion that had to be demo and yes it was a condition that had to be met for the city to issue the release of the substandard and that was required to be able to issue the title policy and close. and then the loan approval…"
What type of paperwork was being processed with the city and is this something that would be required to meet the terms of the short sale approval letter from SPS in order to close? What was the length of the initial extension?"
"Ah, yeah SPS and chase backed assets have a new guideline that is horrible. I had 4 listings fall apart within the last month because of it. I wish I had good news for you but if they are telling you a short sale is no longer an option the short…"
We were in the process of requesting an extension on our short sale approval because we needed more time for the city to process some paperwork that was file. And the bank said that a short sale option is no longer available due to the history on the account. I assume they are referring to the fact that we had already received a short sale approval extension prior to this, that extension was due to repairs on the property having to be done to appease the appraisal inspector. The bank advised…See More
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