Tags:
FNNMA will allow up to $6,000 for junior liens. Not sure why GT is denying this. Sounds to me as if you may be getting partial information.
Is my realtor lying to me? What possible reasons could Green tree have to tell the second that they get nothing but must release their lien?
Mike,
I'd agree with Bryan that it sounds like there seems to be some information missing from the picture. Is your realtor also the listing agent? If not there is a great chance of miscommunication if they are not directly processing the transaction or if they do not hold a greater understanding of the world of short sales. Also, do you know who holds the 2nd lien on the property? Is it a mortgage lien or a judgment?
310-564-6389
Its ocwen. This has been nothing but bad news.
I also think my realtor is giving up.
mortgage lien I called the county clerks office
Mike, Bryant is right about FNMA having SET guidelines. They'll pay 6-8%, up to $6,000-ALWAYS. As they asked, is Your agent, also the Listing agent. Only the listing agent/negotiator will have direct contact with the lender. Of course, it wouldn't be the first misinformed employee of a lender spouting incorrect information.
Im working with the listing agent. Could a PSA be telling Green Tree to give nothing to the second?
There is no set % amount FNMA gives to subordinates. It's up to $6000 and generally is only less than $6000 if the balances of the subordinates don't add up to $6000.
The whole thing doesn't make sense. One things is for sure, they convinced the realtor that they are giving zero to the second. I wonder why Green tree is doing this? Maybe this is just another way to say no to a short sale?
The seller has several high dollars properties as well.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.