"From what i've been advised if the credit score is above 580 they need to accept the modification as an opt out letter won't suffice. If it was below 580 they likely could write the opt out letter. If they accepted the modification and…"
"I've been through this revolving door 4 times in the past month on 4 different files. I'm constantly being fed different answers. I've been told that if the score exceeds 620, then they are not eligible for a short…"
"I'm in the middle of a short sale like this...the court ordered the short sale since the clients were getting a divorce..if possible could you get the judge that gave them the divorce order a short sale.
Wishing you all the best on this one..."
House was purchased by husband and wife in 2007 with FHA loan. Husband and wife divorced in January 2014. Husband filed Ch 7 Bankruptcy February 2014. BK is discharged. Listed it for sale in January. Got offer on it in March.From January to June 17th it was with M&T Bank's "Review for Retention" department. They came back with a verdict to retain. Wife has a income of $3500 per month and they want her to do a trial Loan Mod with a mortgage payment of $1425 per month. Supervisor John at…See More
"I was where you are at Jan 23rd... and we are still waiting.
The office of the VP said to me- "Not every one is entitled to a short sale. We don't just approve everyone." I think this is their new mantra and they are…"
"I would do as Kathleen said. Tell them it is a BK and they are not permitted to ask for any financials since the debt was discharged. Further the IRS Guidelines clearly state "These Standards are effective on April 1, 2013 for purposes of…"
Wells can be difficult, took me 5 months on their last approval, BUT they are giving my seller $43,000 for relocation costs.....NO, I did not add any extra zeroes.
Just opened a new file with them, sellers also discharged in BK. I sent…"
"I just got an update from Adam when I asked why. He said "It’s a part of our investor guidelines that we request these documents in order to move forward with the review." This is an FHA loan. I (my sellers) have NEVER been…"
"They have the BK paperwork. We even had to have the seller's attorney write a letter saying it was ok to talk to WF about a short sale. WF made that letter mandatory even before they would begin to talk to us. "
I have a client who declared Ch 7 BK nearly 3 years ago. We are attempting to get them off title so they can move on. We initiated the short sale back on 8/02/2013. All along we have been getting them information as they have asked for it. Today we got this response. Seems highly intrusive - especially since the BK. Every other BK I have negotiated the BK paperwork trumped the other paperwork. I have never been asked to provide such information/documentation- since 2008! What do you guys…See More
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