Comments - Seller Forced into foreclosure with high Fannie Mae pay off - Short Sale Superstars2024-03-29T13:00:10Zhttp://shortsalesuperstars.com/profiles/comment/feed?attachedTo=3468065%3ABlogPost%3A343688&xn_auth=noLinda, I see. Yes, if B of A…tag:shortsalesuperstars.com,2014-02-07:3468065:Comment:3436622014-02-07T18:52:52.007ZKathy Smileyhttp://shortsalesuperstars.com/profile/KathySmiley
<p>Linda, I see. Yes, if B of A won't put it in writing regarding Money for cash for keys, and if they are not documenting what is being done on Equator, the seller is probably wise to assume that.</p>
<p>Linda, I see. Yes, if B of A won't put it in writing regarding Money for cash for keys, and if they are not documenting what is being done on Equator, the seller is probably wise to assume that.</p> I have another short sale tha…tag:shortsalesuperstars.com,2014-02-07:3468065:Comment:3437852014-02-07T18:14:00.164ZLinda Kemppainenhttp://shortsalesuperstars.com/profile/LindaKemppainen
<p>I have another short sale that the Servicer ( Seterus) came back with a 35,000 inflated value. I contacted Fannie Mae directly and sent comps requested two appeals and was able to get it reduced by 19,000.. Not sure it will appraise, but will cross that bridge when we reach it. This home has several issues, and can only go Cash or conventional.. When all is said and done, I would like to know where the value comes from, especially when there are no comps to support it.</p>
<p>I have another short sale that the Servicer ( Seterus) came back with a 35,000 inflated value. I contacted Fannie Mae directly and sent comps requested two appeals and was able to get it reduced by 19,000.. Not sure it will appraise, but will cross that bridge when we reach it. This home has several issues, and can only go Cash or conventional.. When all is said and done, I would like to know where the value comes from, especially when there are no comps to support it.</p> Kathy, the seller felt that i…tag:shortsalesuperstars.com,2014-02-07:3468065:Comment:3436562014-02-07T18:07:34.615ZLinda Kemppainenhttp://shortsalesuperstars.com/profile/LindaKemppainen
<p>Kathy, the seller felt that it was just another lie. The Servicer told him that Deed in Lieu's are not reflected on his credit, but when he checked, he found out different. The Servicer promised him money, but when he asked when they would give him the money they were vague. Stated that only if there were no other outstanding liens.. He just didn't trust them.</p>
<p>Kathy, the seller felt that it was just another lie. The Servicer told him that Deed in Lieu's are not reflected on his credit, but when he checked, he found out different. The Servicer promised him money, but when he asked when they would give him the money they were vague. Stated that only if there were no other outstanding liens.. He just didn't trust them.</p> Linda - I'm curious. Consider…tag:shortsalesuperstars.com,2014-02-07:3468065:Comment:3436492014-02-07T16:46:41.258ZKathy Smileyhttp://shortsalesuperstars.com/profile/KathySmiley
<p>Linda - I'm curious. Considering this seems to be hitting a brick wall, why didn't the seller accept the deed-in-lieu? </p>
<p>Linda - I'm curious. Considering this seems to be hitting a brick wall, why didn't the seller accept the deed-in-lieu? </p> Linda, I have a similar situa…tag:shortsalesuperstars.com,2014-02-07:3468065:Comment:3436472014-02-07T16:14:56.608ZEllen Dittmanhttp://shortsalesuperstars.com/profile/EllenDittman
<p>Linda, I have a similar situation. Condition issues so severe that a 203k cannot be done. Cash only. The lienholder in our case did s similar stunt with regard to the numbers you stated. Only our #'s were 188, 199, 210, and 225</p>
<p>Linda, I have a similar situation. Condition issues so severe that a 203k cannot be done. Cash only. The lienholder in our case did s similar stunt with regard to the numbers you stated. Only our #'s were 188, 199, 210, and 225</p> I closed a short sale last ye…tag:shortsalesuperstars.com,2014-02-06:3468065:Comment:3434542014-02-06T17:45:02.169ZLinda Kemppainenhttp://shortsalesuperstars.com/profile/LindaKemppainen
<p>I closed a short sale last year on a VA loan with Flagstar. The sellers pay off was 168,000.. Flagstar stated that due to attorney fee's, and other costs related to the pay off the lowest they could take was 201,000.. We got their price, and closed. Then VA contacted the seller and asked why it was a short sale. When we told them they said they wanted to file a complaint against Flagstar, as their was no reason for a short sale. Flagstar held us up 6 months in the short sale processes, on…</p>
<p>I closed a short sale last year on a VA loan with Flagstar. The sellers pay off was 168,000.. Flagstar stated that due to attorney fee's, and other costs related to the pay off the lowest they could take was 201,000.. We got their price, and closed. Then VA contacted the seller and asked why it was a short sale. When we told them they said they wanted to file a complaint against Flagstar, as their was no reason for a short sale. Flagstar held us up 6 months in the short sale processes, on continuous lost or misfiled papers. The VA should not have a short sale on his record if the payoff is more than owed. </p>