" Did a Co-op through REDC, they are just fabulous. I got a response the next day. Got the approval letter within days and could have closed in 30 or less. The buyer didn't think it would go so fast because of the stories that…"
"Fastest I have seen is 40 days . I've been stuck in the borrower outreach for longer than that as well though. On a non HAFA qualifying prop too, HA HA. I have also been stuuck in "approval requested" for 60 days. A lot…"
"I know that when I've done Freddie Mac or Fannie Mae sales, the borrower must be 60 days delinquent. If you find out that the investor is one of those, unfortunately, the borrower would need to miss two payments so get classified as a…"
"After I had a buyer, sent in contract, received a response in 7 days, then received the approval letter in the next 7 days, we were in escrow in less than 21 days from contract submission. HOWEVER, this is a Bank of America loan, BUT it is…"
I just got denied by Aurora for a Short Sale (surprise, surprise). The denial was due to the fact that the seller is still performing. He can barely make his monthly mortgage payment. DTI is at 80%. We've proven a hardship, loss of income and an ill mother (mother is on tax returns as a dependent). Any ideas? short of stopping payments. The loan is a Neg Am he makes the min monthly payments.See More
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