Change in servicer - 8 days from sale date. What to expect?
I have a short sale that has 3 liens. I have approval on the first (Everhome), approval on the 2nd, (HFBC) and awaiting approval from the 3rd (Deval for HUD).
It's not looking good that Deval is going to get an answer by April 30th for me. (Because HUD is the Wizard and no one knows when they will respond to request) The next sale date for the property is May 8th. However I just learned that Everhome is selling the loan to Greentree - SO - my question is - is it true that will should get a reprieve from the sale date under RESPA for 60 days due to the transfer?
If that is the case, it will be a huge plus for my sellers. It may mess things up entirely for my sale - but again - it will truly help the sellers and that is my goal anyway.
I'm hoping on approval - but just want to be sure I know the facts for Plan B should we need it.
Thank you
Replies to This Discussion
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Permalink Reply by Wayne Brooks on
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No. RESPA has nothing to do with changing servicers and/or delaying an auction date.
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Permalink Reply by Julie Cendejas on
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Awesome thanks for that info. Didn't think it did - but read it somewhere and had to ask!
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Permalink Reply by Short Sale Superstars LLC on
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Have you called the trustee to check the sale date? Is the sale date set or is it on hold?
If you have any questions or need anything at all feel free to reach out to me as my door is always open.
310-564-6389
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