Adriana Garcia
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SHORT SALE EXTENSION REQUEST DENIED **** HELP***

Started this discussion. Last reply by Smitty Dec 11, 2019. 14 Replies

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

Tags: extrequestdenied, extensionrequestdenied, extrequest, extensionrequest, shortsaleextension

 

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Smitty replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"FHA sales take longer, but I don't know SPS to service FHA sales."
Dec 11, 2019
Smitty replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Dec 11, 2019
Brett Goldsmith replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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."
Dec 10, 2019
Smitty replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Dec 10, 2019
Adriana Garcia replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"thank you ALexis"
Nov 26, 2019
Adriana Garcia replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"Do you mean was the original loan an FHA>(Sellers Loan) And if it IS and FHA short sale? "
Nov 26, 2019
Smitty replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Nov 22, 2019
Alexis Adams replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Nov 14, 2019
Tony Morales replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Nov 13, 2019
Adriana Garcia replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Nov 11, 2019
Ashley Majors replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"Adriana,  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?"
Nov 11, 2019
Brett Goldsmith replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"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…"
Nov 8, 2019
Adriana Garcia replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"The servicer is SPS the investor was originally chase per the Loan Docs"
Nov 7, 2019
Brett Goldsmith replied to Adriana Garcia's discussion SHORT SALE EXTENSION REQUEST DENIED **** HELP***
"Who is the servicer and who is the investor?"
Nov 7, 2019
Adriana Garcia posted a discussion

SHORT SALE EXTENSION REQUEST DENIED **** HELP***

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
Nov 7, 2019
Adriana Garcia is now a member of Short Sale Superstars
Nov 7, 2019

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First Name
Adriana
Last Name
Garcia
Are you a...
3rd Party Negotiator
State
CA
City
Sherman Oaks
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3rd party short sale negotiator

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