I've heard NOTHING positive about USAA as far as agents attempts to complete short sales. I have a Seller with a $19k HELOC, (started as $25k) so it's relatively small. Has ANYONE completed a short sale recently with USAA? I spent 30 minutes on hold trying just to get to someone in the short sale area with little luck.

This is a HELOC, if that makes any difference. Any advice/insight is appreciated.

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Jeffrey, I just closed one before Christmas with a 2nd position HELOC. USAA initially requested 50% of the balance to release the lien.  We ended up with 25% of the balance to release the lien ONLY and continuing to pay the note via a .05% loan modification.  Because the release of lien allowed the property to be sold, the deficiency actually became an unsecured loan.  I RARELY spoke with my negotiator on the phone, but she did communicate often via email.  She also was good about returning phone calls at the end of the day.  Hope this helps!!!

Our seller has a $144K balance on the 2nd with USAA.  They initially wanted 35% and we got them down to 25%, but the seller has no job and no money, so we don't see how this will work.  They won't take a promissory note either. They didn't offer a loan mod on the remainder.  Any suggestions?

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