We have a first with Midland (FHA) and a second with Navy Federal

Midland won't work a short sale without an approval in writing from Navy Federal accepting $1500 (balance is aprox. $70k).

Navy Federal won't look at the short sale without an approval in writing from Midland showing what offer they will accept and what Midland will approve for Navy Federal.  Navy Federal will not order a BPO until they have the Midland approval in hand.

Any ideas?

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Comment by Marcia Vollmer on February 26, 2014 at 6:18am

Thank you!

Once we reached someone willing to listen to the situation at Navy Federal they seemed willing to try.

Hardest part these days seems to be getting anyone to listen to a unique situation instead of cutting you off.

Comment by Alexis Adams on February 26, 2014 at 6:15am

Ugh, Midland Mortgage is the worst. Navy Federal seems to be reasonable but you are right: Navy Federal 2nds always want approval from the 1st. My suggestion is reaching out to the 2nd as high up as you can to try to get that approval letter. If you contact HUD, HUD will tell you "we have no control over 2nd lien holders if they are not willing to cooperate" so that probably won't do you any good.

Mine with Midland that I have as a 1st put me through the same thing. Now I have to go back and start the file over with the 2nd because Midland took so long to actually review after receiving approval from the 2nd... It is a mess. But I would keep putting pressure on the 2nd and see what you can find out.

Comment by Marcia Vollmer on February 26, 2014 at 5:50am

No Midland is saying that they can not review for the ATP until they have a written approval from the 2nd.

2nd is relenting a little today saying they will ask management what they can do..

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