Comment

Comment by Dorothy Kim Turley on January 17, 2014 at 11:23am

I was so very happy for my clients in October of 2013 when they received an offer on their home which would cover the amount owing on the 1st note......2nd note (with Merrill Lynch) would need short sale approval.

My client's contacted Merrill Lynch and were given a list of items that would need to be submitted in a short sale packet

Third party authorization was in place & on November 9th a clear, concise packet of all items requested by Merrill Lynch which included buyer's offer & notarized items was sent to supervisor Timothy Tracy.

Then came the request for items many times that had previously been sent.....no surprise there!

What really is troublesome is that Merrill Lynch has had the complete packet for 9 weeks & still no contact from our negotiator.

After many, many emails had been sent I did receive a call in December 2013 from Mr. Tracy who informed me that a negotiator had been assigned to my client's file on Dec. 17th - that was over a month ago and still no contact from our negotiator!!

My client called the Merrill Lynch supervisor today and his response was,
"You are the one that is asking for our help!".

What customer service you deliver Merrill Lynch.

Comment by David A. Roebuck on May 21, 2012 at 2:55am

Just starting my first Short Sale with Merrill Lynch

Anyone have any suggestions or information they could share.

How easy to work with?  Do they waive deficiency on 1st lein?

Any information at all would be great

Comment by Elise Fay on October 14, 2010 at 9:54am

Well I am in the midst of a short sale with Merrill Lynch. PHH is the Servicer for their loans. Cartus is the group handling the short sale for them. It is outsourced but all the docs were sent over to Merrill and once an offer was received, it was sent to Cartus and the negotiator called and spoke to my client. I then was able to speak with her directly and communication has been wonderful. We should be approved here shortly.

The phone number for Merrill is 800-750-2518 (this could be PHH's number. Give that a try.

Comment by Rita Flood on October 14, 2010 at 9:49am

My servicer Wells Fargo states Merrill Lynch does not do short sales? Any contact information for Merrill Lynch?

Comment by Elise Fay on October 14, 2010 at 9:25am

Has anyone received an approval letter? I would like to know what kind of language they put in there.

Comment by Elise Fay on September 29, 2010 at 6:41pm

Julie--I don't know. I requested a Fannie Mae HAFA short sale and the bank sent over the docs the seller needed to sign and those were received on 8/13. On 9/24 they finally reviewed and made a decision...quite a long time. Offer was received on the property and submitted on 9/16 and it just took an act of God (I called Fannie in DC on them) to finally postpone the foreclosure date. Unfortunately the seller had moved out since their postponement occured the day of foreclosure. It is quite understandable that the seller panicked and had to find a rental...no one likes to gamble like that-so now they no longer qualify for the HAFA program. How convenient that is.

Now I will hopefully be able to share some timelines with you since the postponement is only for 45 days. The bank did finally contact the homeowner today, so hopefully they will get their act together. I will keep you posted.

It is always so tough to advise clients when they are facing a foreclosure and tell them to stay in the home. No one wants to get that knock on the door when the bank takes it back. Merill Lynch & the investor were very foolish and short sighted. They dropped the ball on this one, now there is another vacant home on the market.

Comment by Julie Finch on September 29, 2010 at 12:09pm

Any idea what the time lines once you've submitted an offer? 90 days, 120 days?? Less? Any input would be appreciated.

Thank you
Julie