Below is copied/pasted note from negotiator. We received an approval letter today, for closing Monday, August 5th. We asked for an extension and got the following response. Does anyone know if this…Continue
Watson Realty Corp
153 Blanding Blvd
Orange Park, FL 32073
(904) 535 1199
Appreciate your help or advice on this: Below is basic scenario involving PHH as the 1st (the 2nd is the problem).
I have a call in to Fannie Mae to get clarification on this "guideline" in order to gain some ground with the 2nd.
First mortgage PHH today stated that Fannie Mae recently changed their guidelines and now will not allow the secondlien holder to require a promissory note or agreement to pay back the moneyoutstanding, the second lien holder…Continue