Erinn Frisbie
  • California
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Erinn Frisbie's Discussions

BofA Decline? PLEASE HELP!

Started this discussion. Last reply by TOP END Properties Aug 12, 2012. 3 Replies

I am going to try to make a long story short....Buyer #1 - move through process in Equator, everything is fine, buyer walks. Negotiator accidentally does a hard decline on the file.Buyer #2 - already…Continue

 

Erinn Frisbie's Page

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ElizabethWeintraub00697006LyonRE replied to Erinn Frisbie's discussion Pay off 1st in full and short 2nd and 3rd? in the group Bank of America Short Sales
"The first is not involved. Just order a beneficiary demand from the first. I'd offer the third either $3,000 or $6,000 and give the rest to the second."
Jan 23
Thom Colby CA Brkr 888-391-5245 replied to Erinn Frisbie's discussion Pay off 1st in full and short 2nd and 3rd? in the group Bank of America Short Sales
"Since the 3rd is so large is it an SBA loan?"
Jan 23
Brett Goldsmith replied to Erinn Frisbie's discussion Pay off 1st in full and short 2nd and 3rd? in the group Bank of America Short Sales
"I wouldn't anticipate a 75% and 25% split between the 2nd and 3rd. I'd be offering the 3rd considerably less to begin with as they are pure dead debt based off the numbers you stated. I'm here if needed to…"
Jan 23
Thom Colby CA Brkr 888-391-5245 replied to Erinn Frisbie's discussion Pay off 1st in full and short 2nd and 3rd? in the group Bank of America Short Sales
"Good luck with PHH.  It took me almost 2 years and 4 buyers to get a deal closed with them - they are extremely difficult to work with.  That said, you cannot short the 1st if the proceeds would cover what they are owed (balance plus…"
Jan 23
Erinn Frisbie added a discussion to the group Bank of America Short Sales
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Pay off 1st in full and short 2nd and 3rd?

First with PHH (Merrill Lynch) balance is $301,000Second was with PHH just transferred to B of A in November balance $188,000Third with B of A as well balance $250,000Value is at about $450,000 and just received offer at that price. Has anyone had an experience on paying off first in full, covering all closing costs and then having 2nd and 3rd be shorted and split 75% / 25% respectfully? Seem like if I try to process the first as a short in order for the 2nd and 3rd to fall in line, the first…See More
Jan 23
Erinn Frisbie commented on Jim Schneider's group Bayview Loan Servicing
"Thank you! The asset manager suggested countering AT the suggested price, which the comps don't support. I asked for a counter at 90% of the suggested value and he said "sorry investor declined" It is a Fannie but not sure about the…"
Jul 23, 2014
Erinn Frisbie commented on Jim Schneider's group Bayview Loan Servicing
"NEED HELP! File with FMV offer has been with the asset manager for about 45 days. He emailed me and said "The investor suggests a listing price of $227,565" (offer is at $175,000) Since there was already an offer I am not sure why he…"
Jul 23, 2014
Erinn Frisbie joined Jim Schneider's group
Jul 23, 2014
SE Davis replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"YES the Chase CSR tries to be helpful but you must navigate past that to be transferred to the escalation department then get an escalation ticket #. For me it was JOY TO THE WORLD in less than 24 hours three times."
Mar 14, 2013
Erinn Frisbie replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"Thank you! When I called this morning I asked for the escalation department and the gal said "let me check the notes on the file" and then went on and on with all of the above. Also said that she could not locate a phone number for the…"
Mar 14, 2013
SE Davis replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"Erinn; I've closed 3 Short Sales with Chase in the last 2 weeks. All 3 had to be escalated between 1-2 times each before written approvals were issued. Chase is struggling mightly with their transition to Equator. Prepare your complaint in 50…"
Mar 14, 2013
Erinn Frisbie replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"Thank you I will try that as well."
Mar 14, 2013
Erinn Frisbie replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"tThank you!"
Mar 14, 2013
Jen Hill replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
"Hi Erinn, we've escalated a few times directly to Fannie by calling their Resource Center and requesting to speak with someone in Level 2.  Sometimes it helped, sometimes not, but it's always worth a shot.  Good luck! Fannie Mae…"
Mar 14, 2013
Kevin - Greenville, SC replied to Erinn Frisbie's discussion Ready to toss in the towel.... in the group Chase
Mar 14, 2013
Erinn Frisbie added a discussion to the group Chase
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Ready to toss in the towel....

If you read my other post you know that this has been going on since January 24. Long story short, the file was submitted, the loan mod department pulled it, had to get it resubmitted, I got the run around, Chase transferred it over to their modified Equator system, etc.The negotiator called last week on the 5th and said we needed to do a counter and if I could get it to him ASAP he would submit to the investor (Fannie Mae) to get approval. He said "I should have an answer for you by the end of…See More
Mar 14, 2013

Profile Information

First Name
Erinn
Last Name
Frisbie
State
California
City
Paolm Desert

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