ash lomont
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Tony Morales replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"I just got off the phone with Freddie Mac who stated that is their guideline  but then said that the servicer can ask fort an exception. Then I called my contact at Wells Fargo as they service FM loans too. he stated FM will always decline a…"
Oct 24
Brett Goldsmith replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"ch 7's don't typically discharge mortgage liens, that's typically a motion when someone does a ch 13 and is going for a discharge. I feel like we may have gotten an exception from Freddie Mac  or Fannie Mae once to allow…"
Oct 24
ash lomont replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"HI guys thanks for your input. The 1st is owed way more than the property is worth so the 2nd will not get any $$$. I have worked on this deal for a year we have escalated and filed complaints with Consumer finance protection bureau and Omsbudsman…"
Oct 24
Brett Goldsmith replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"Tony, just because a 1st is foreclosing does not mean a second will get 0 at foreclosure. This depends on amounts owed vs what the home sells for at auction."
Oct 24
Tony Morales replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"Brett, The 1st is foreclosing, not the 2nd . So 2nd is aware that gets 0 if goes to auction"
Oct 23
Brett Goldsmith replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"Have you escalated with the 2nd lien? Do they have proof that FHLMC is the investor? Typically what the 2nd wants comes down to lien position and their valuation. They must think they may get more at foreclosure auction. At times you can get them to…"
Oct 23
Tony Morales replied to ash lomont's discussion SPS 2nd mortgage in the group SPS Select Portfolio Servicing, inc
"its very doubtful that the 2nd has insurance.  Please understand a 2nd lien holder could care less about Freddie Mac's guidelines. So possibly the reason they will not accept is that they know that they can go after the seller for the…"
Oct 23
ash lomont added a discussion to the group SPS Select Portfolio Servicing, inc
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SPS 2nd mortgage

Hello,I have a short sale that has an SPS 2nd mortgage. The 1st mortgage is with Mr. Cooper and is a Freddie Mac Loan. The 1st mortgage holder will give the 2nd mortgage holder $6000 per Freddie Mac guidelines to the 2nd mortgage. Freddie Mac only gives $6000 max and does not allow the buyer or seller to bring in additional funds. The investor for SPS wants 18K but that is not allow per the Freddie Mac guidelines even if the buyer wanted to bring it in they can't. I have appealed to the…See More
Oct 23
ash lomont joined Mayra Espinosa CDPE, HAFA, SFR's group
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SPS Select Portfolio Servicing, inc

For Short Sale - OverviewHomeowners interested in pursuing a short sale, can call 888-818-6032 to speak with a Loan Servicing RepresentativesTo speak to a Loan Servicing Representative to Help you with answers to your questions regarding the status or history of your account call please call 888-818-6032Representatives are available Monday through Thursday from 8:00 AM to 11:00 PM, Eastern Time.Friday from 8:00…See More
Oct 23
ash lomont is now a member of Short Sale Superstars
Oct 23

Profile Information

First Name
ash
Last Name
lomont
Are you a...
Agent
State
CA
City
newport beach

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