Comment

Comment by Jessica Rodriguez on September 20, 2010 at 10:18am

UPDATE: Ocwen negotiator calls me today to let me know we should be receiving our SS approval within 24hrs. Now my challenge is we have a sale date 10-08-10 and he says he cannot cancel it as they will not allow him to. Should I have the borrower send in loan mod doc. for the second time and if so will they cancel the sale?

Comment by Bryant Tutas on September 20, 2010 at 10:07am

Jennifer. Never heard of that before. Sounds like the lender is just trying to get more money out of you. If you could make the payments you probably wouldn't be doing a short sale.

Comment by Jennifer McNitt on September 20, 2010 at 10:00am

Is it normal to have to get current with your mortgage payments for a bank to approve your short sale? Our RE attorney mentioned that we may have to do this per his discussions with our bank and I was wondering what others have encountered.

Comment by Jennifer McNitt on September 16, 2010 at 3:56am

She's experienced with short sales and has been working with our attorney through all this. I beleive neither have worked with US Bank on a short sale in this manor though (when they have both the primary and secondary).

Comment by Brigitte Powell on September 16, 2010 at 12:38am

Where is your Real Estate Agent in all this?

Comment by Jennifer McNitt on September 15, 2010 at 5:50pm

I'm trying to find a contact who has done a USBank short sale when they have the second lien. We've been told that we have to agree to the deficiency to be able to get the lien released. What I'm looking for is information on what you then did to have the deficiency amount lowered. Our attorney sent in a settlement letter but they will not even review this as long as they think we can still sell the house. Thanks!

Comment by Andi K on September 14, 2010 at 5:29pm

Upon further investigation and questioning, WF states, "There are several stages the offer has to go through and it did not make it past the PMI group." Meaning, since Radian Guaranty will not payout on the property if it isn't 60 days in arrear, WF will not even file with them. When RG was contacted, they claimed to have not received the request. They also stated that 60 days is their official policy and they will not bend. Any other options?

Comment by Andi K on September 14, 2010 at 12:16pm

On my Deed of Trust it says C) Lender is Wells Fargo, and D) Trustee is the Public Trustee of xxxx County, Colorado. Is that right? If so, do I contact that "person" in our county? This seems odd to me, but I am mortgage-dumb. Thanks!

Comment by Jessica Rodriguez on September 14, 2010 at 12:03pm

It should say the trustee is ? that is your investor.

Comment by Wendy Rulnick on September 14, 2010 at 12:02pm

Andi - Being late on payments could be an investor requirement. BUT, if some investors see you may imminently default, they may bend. If you decide to miss payments, it will be reflected on your credit report.

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