Replies to This Discussion

Permalink Reply by Norene Williams on September 13, 2010 at 3:47pm

Hi Elisabeth,
Suntrust was a total pain. They requested financial information from the ex-husband. BOA never even mentioned him. Ex was not willing to co-operate and then the buyer walked so it didn't go any further. Still waiting for another offer and then going to fight hard. The house was given to the wife in the divorce. Of course ex-husbands name is still on the loan. Don't know what is going to happen.

Permalink Reply by Bryant Tutas on September 22, 2010 at 9:53am

Laura. Yes it means that you only have to request a short sale from Sun Trust. I have had Sun Trust waive deficiencies. Please seek legal advice before signing off on anything.

Laura Dohojda said:

I own a home in T-ville; 1st mtg. with Chase ($217,000) and 2nd with SunTrust ($168,000). We are getting ready to enter the "short sale" process. My guess is that IF we get an offer, it will be around $350,000. Does this mean that Chase will be made whole and SunTrust will get what's left? Is SunTrust waiving deficiencies for sellers?

Permalink Reply by Gwen Mark on September 24, 2010 at 11:06am

New update. Have now recieved the Suntrust approval right AFTER the buyers got tired and walked! Now we have a new offer and are waiting on Wells Fargo(1st) to approve>>>>They now seem to be taking their time....uggggh

Gwen Mark said:

Footnote to previous: Wells Fargo closed the file because Suntrust would not respond. The property was one hour from foreclosure when we got a last minute reprieve. I had to withdraw the original offer that Wells Fargo had already agreed was fine, and submitted a much larger backup offer to "get their attention" It worked, but because the file had been closed, we had to start the process all over. We are now back to square one. Wells is agreeing to the offer, but Suntrust still is telling me the file "is progressing" without any real movement. New foreclosure date is 30 days... Bang Bang(sound of head beating the wall!)

Gwen Mark said:

I am sort of in the same boat, so will be curious if anyone has answers. My 1st is with Wells Fargo. We got the negotiations to the point of sending to Investor for approval, but they want Sun Trust to send their approval on the $3000 they are willing to give. The foreclosure date is looming and won't be postponed unless the file progresses. Suntrust is acting like they are the 1st. Wanting even more documentation than Wells Fargo! No urgency. Now Wells Fargo says they will have to close the file because he has had it too long. UGHHH!

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