Jim Bowser
  • MICHIGAN
Share on Facebook
Share

Jim Bowser's Discussions

Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer

Started this discussion. Last reply by Jim Bowser Nov 29, 2017. 6 Replies

Submitted all Short Sale docs 5 days before scheduled foreclosure sale.  Shellpoint said too close to sale date to postpone sale.  Sale held and no one bid on the property.  Shellpoint said since…Continue

 

Jim Bowser's Page

Latest Activity

Jim Bowser replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"Thanks for the great information!"
Nov 29, 2017
Brett Goldsmith replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"If the sale date isn't postponed and if no third party wins the auction the property reverts to the foreclosing mortgage lender thus becoming a REO aka bank-owned home."
Nov 29, 2017
Jim Bowser replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"Thank you again for your reply!   Is that also where no sale occurs at the auction as no one bids on the property?"
Nov 29, 2017
Brett Goldsmith replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"I've never seen a short sale allowed on a home that was already foreclosed on by a senior mortgage. Redemption periods are so borrowers have an opportunity to reclaim the property."
Nov 29, 2017
Jim Bowser replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"Thank you Brett for the response! Would they be more likely to entertain a short sale if the mortgage was government insured?   Do you know any way to get the bank to consider a short sale?  I was advised by someone who said they did…"
Nov 29, 2017
Brett Goldsmith replied to Jim Bowser's discussion Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer
"If it's a REO and they won't entertain a short sale during the redemption period you'll likely need to wait until it's listed as a REO to try to purchase it. This is common. Hard to purchase a single bank owned asset from large…"
Nov 28, 2017
Jim Bowser posted a discussion

Shellpoint Servicing refusing Short Sale during redemption period after Foreclosure sale held w/o buyer

Submitted all Short Sale docs 5 days before scheduled foreclosure sale.  Shellpoint said too close to sale date to postpone sale.  Sale held and no one bid on the property.  Shellpoint said since sale was held, it is now REO property and there is no short sale allowed.  They tossed my submitted documents.  They said I now must contact local REO realtor to offer on property when 6 month redemption period expires.  Property in Michigan.  Getting shuttled from one Loss Mitigation rep to another -…See More
Nov 28, 2017
Jim Bowser is now a member of Short Sale Superstars
Nov 27, 2017

Profile Information

First Name
Jim
Last Name
Bowser
Are you a...
Investor
State
MICHIGAN
City
Chesterfield
My Profile
I invest in real estate and have started using short sales to acquire property.

Comment Wall (1 comment)

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

At 3:39am on February 2, 2018, Precious Romeo said…


Good Day,

How is everything with you, I picked interest on you after going through your short profile and deemed it necessary to write you immediately. I have something very vital to disclose to you, but I found it difficult to express myself here, since it's a public site.Could you please get back to me on:( [email protected]
) for the full details.

Have a nice day

Thanks God bless

Mrs Precious.

 
 
 

Members

© 2018   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************