Anyone see this? Suggestions?
Check to see if the short sale has been set-up for the new buyer. She said they received documents however the investor is putting in a restriction on the file for a short sale and the available options are Deed-in Lieu , SPS modification and Repayment Plan. She said there is nothing that SPS can do to lift the restriction. And so I asked for the name of the investor on the file and she said she will send in a request for the investors name to be sent through fax. I should receive it in 3 business days. I also requested for an updated payoff quote which is good until Sept.10 and I will received it in 1-5 business days through fax. There is no foreclosure sale at this time.
(Brenda's update on Aug. 25)
Spoke with Tiffany Bosnik with SPS. She researched the notes and the investor's decision is the following:
Determined that the Short Sale is not Feasible
Borrower/Seller can either take a DIL or a Short Pay (one time lump sum short of what is owed paid in certified funds)