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Help Me!

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Green Tree Fannie Mae 1st Ocwen GMAC 2d

Started by mike romone. Last reply by Kelly Magreevy Oct 12, 2015. 44 Replies

MIDFIRST BANK

Started by Bob Helmig. Last reply by Brian Avery May 7, 2015. 8 Replies

Need contact # for Guaranty Bank please.

Started by Evelyn Broxterman Sep 3, 2014. 0 Replies

Bank of America servicing USDA

Started by Jeff Struchen. Last reply by Jeff Struchen Aug 7, 2014. 2 Replies

SAFEGUARD BREAK INS

Started by Barbara Wing Mar 20, 2014. 0 Replies

Short sale finally closed now what......

Started by Cassandra Lynn Crull. Last reply by Brian Avery Feb 27, 2014. 1 Reply

Indymac/One West Bank- Urgent

Started by KIM KISER Jan 17, 2014. 0 Replies

Everhome Offer 109K above offer on short sale!

Started by Mark Gottlieb. Last reply by Mark Gottlieb Jan 12, 2014. 4 Replies

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Comment by Jeff Payne on November 8, 2010 at 2:30am
Dawn,
You and your seller need to escalate the file,both need to call and email the excutive office with this nonsense. [email protected] is the CEO email address. Blast an email to him letting him know what the negotiator is doing.
Comment by Dawn Jones on November 7, 2010 at 10:36am
I need an answer and FAST! I have a short sale I am negotiating with Chase with a foreclosure sale date scheduled in the next 14 days. The file has been with Chase approx. six weeks. BPO is complete, all documents current w/no outstanding items, and we've been working daily towards an approval letter and/or postponement of the sale. Chase's negotiator has come to me in the final hour (this past Friday night) with a demand for $80,000 from the seller "to show good faith" BY MONDAY (less than 72 hrs.) OR SHE WILL NOT CONSIDER THE SHORT SALE OR POSTPONE THE SALE DATE. What I want to know is... Can the lender refuse to consider a short sale (hardship) without a payment being made by the seller? Isn't that what a hardship is about in the first place? Any comments or suggestions are appreciated. .
Comment by joe beauchamp on October 21, 2010 at 7:55am
I have not had anything to do with HSBC for a while, however, in general I have found that banks can be budged with an appraisal - but nothing less. They assume you are just a conniving liar because you are an agent, but they do believe appraisals.
Comment by Cami Pinsak on October 21, 2010 at 6:29am
HSBC will only take 100% of inflated value. The appraisal on this property came in high. Although this property faces an 8 lane road right in the middle of commercial properties and sits adjacent to a major freeway, the appraiser still comped it the same as the cute cottagey properties that sit behind this one. We have sent pictures, our own comps and market statistics, but they won't budge. And they say their appraisal is good for 6 months. Now, they won't take anything less than 100% of value. We have a cash offer that comes in at 90% value. They won't budge. They say to let it go to foreclosure then....

Anyone have ideas, thoughts, contacts? HSBC is such a huge bank, I can't seem to find the correct contact to escalate to. HELP!
Comment by Jennifer McNitt on September 24, 2010 at 10:21am
Jeff-That is correct, they will not release the lein on the second unless we agree to the deficiency. At this point we've agreed otherwise they will not do a short sale and our only other alternative would be to foreclose.
Comment by Jeff Payne on September 23, 2010 at 11:25am
I did not read all of the posts but have to agree that having an attorney involved could be the problem. I understand they want you to pay $5000 at closing but dont understand the deficiency talk. Are they saying that they will not release without having the right to a deficiency?
Comment by Jennifer McNitt on September 23, 2010 at 9:18am
I tend to agree. Both my agent and my attorney have done short sales but not with USBank. We're all dumfounded by everything USBank has told us vs. what has been experienced with other banks.
Comment by Brigitte Powell on September 23, 2010 at 9:11am
What I was attempting to say was that I have never heard of mortgage company wanting the Sellers to get current in order to approve a short sale. Sounds like a load of something to me :-). (My opinion)
Comment by Brigitte Powell on September 23, 2010 at 9:09am
Jennifer, re your attorney and getting current with mortgage.......first of all don't you have a knowledgeable agent???? I have not heard of getting that ever. How many Short Sales has your attorney done? Is he talking to the mortgage company? Is he talking to the negotiator? Don't know if it is very helpful to have the attorney AND the agent talking to the negotiator. Your AGENT needs to negotiate that figure or show that you have no money to contribute. In many cases negotiators and mortgage companies do not like it when attorneys get involved other than in the closing
Then ...that is just MY experience
Comment by Jennifer McNitt on September 23, 2010 at 9:00am
One more thing...our real estate attorney was told by USBank that us as sellers will have to come to closing with 5K or so if we want to short sale our house. This is on top of agreeing to paying the deficiency. We have both our first and second mortgage with them and it was the second dept that told him this. Has anyone ever heard of this before?
 

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