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Permalink Reply by Short Sale Superstars LLC on January 9, 2013 at 9:00am

Toni,

          I believe they are similar to Titanium Solutions. They will contact borrowers on behalf of the lender and solicit them for a loan modification.

[email protected]

www.ishortsalenow.com

310-564-6389

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Permalink Reply by toni blount on January 9, 2013 at 12:07pm

But BOA already denied her the loan mod. They have been playing around with this since July. They send her a letter saying loan mod denied, then when submitted for short sale, they say it has to go through loan mod first. This has already happened twice. The CRM will only call back upon escalation. Any ideas of how to get out of this maze? Its an FHA, seller lost job, only making 1/2 of previous salary.

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Permalink Reply by Short Sale Superstars LLC on January 9, 2013 at 12:15pm

Has a request been placed by HUD already by the CRM to have the borrower be put through the Pre Foreclosure Program? BOA and Pre Foreclosure Sales are often long and tedious right now. The CRM's are extremely hard to get a hold of at times and yes often you will need to escalate. We have an escalations team assigned to our company by BOA, so we typically have them ensure a call back from the CRM. Once this transaction moves forward you should work via email with the FHA negotiator who is assigned.

If you have any questions feel free to reach out to me as my door is always open.

[email protected]

310-564-6389

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Permalink Reply by toni blount on January 9, 2013 at 12:44pm

Brett,

I really think not. Seller req loan mod which they denied. When short sale initiated 1st time, seller was told had to try loan mod first. CRM sd LM denied because all docs not sent in, not because not qual. (CRM admitted that he could see that they received all docs) CRM said he had to submit for LM. Seller sent all docs again. Lag time getting back to CRM for status, had to escalate.. Seller received letter denying LM 2nd time. When CRM contacted, he said he thinks it was denied because of missing doc (P & L statement) But he admitted again that he had the  doc. He said he would put it through for short sale. That was just before Christmas. The correspondence she received is from JMA Services visiting her home & leaving package. Sounds like they are trying to initiate loan mod again. She doesn't want loan mod, wants to short sell because her income has decreased so much since losing her employment.

How do I get out of this maze?

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Permalink Reply by Short Sale Superstars LLC on January 9, 2013 at 1:16pm

Escalate on the CRM. They often can place a variance to HUD requesting that the seller can bypass attempting a loan modification. Also, if the borrower has already been declined they should be able to move this forward. Also, I would open up a complaint with HUD and see if they can assist in pushing this forward.

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