Lisa I am in the SAME BOAT as you .... they want to be made 100% WHOLE???
I have a file ... Chase is the 1st and 5th 3rd is the 2nd ... our contract will pay the $615K to Chase and will give 5th 3rd about $80K ... the sellers have agree to a Promissory Note of $70K (their balance with 5th 3rd is $320K so they are ALMOST GETTING 50%) NOW that the Sellers have agreed to the extra $70K they NOW WANT to put a LIEN on the people's oyher property for $240K and will not do the afore agreed upon PN???
Talking about NOT HELPING somebody ... HOW THE HELL can they expect to be made 100% WHOLE when EVERYONE has to take a hit and play FAIR ... my sellers are in their 60s and have decided to let Chase FORECLOSE and then they will file BANKRUPTCY and 5th 3rd will get NOTHING???
I wonder what kind of banker wants ZERO THOUSAND as opposed to $80 THOUSAND PLUS a PN????
This is a first for me and I have been doing this for over 4 years???????
Fifth Third Bank IS DELIRIOUS?????
YIKES!!!!
Replies to This Discussion
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Permalink Reply by Alton R. Tyndall, Jr on
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Trina..How far up the chain have you gone regarding the shortsale with fifth third..I have some names if u need them..
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Permalink Reply by Trina on
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Alton I CANNOT GET PASSED my Negotiator ...any help that you can give would be GREAT!!!
URGH!!!
Trina
[email protected] -
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well...i have some, I will send to your email...
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Permalink Reply by Lina Robertson Jones on
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Mine is going the same way. My seller finally agreed to sign a Right to Pursue Deficiency, after Fifth Third said it was either that or sign a promissory note. Now that I've gotten my seller to agree, they've taken it away as an option.
At one point, they agreed to accept 85% in a promissory note...now they want 100%.
Seems like each time we rise up and meet them, they take a step backwards! They will end up getting $0 in the end! -
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Hey Lisa ...
Wanna email me and let me tell you how I got 5th 3rd to take $181K instead of the $320K that they were DEMANDING on a HELOC???
Email me at [email protected]
I will TRY to help you the best that I can :)
Trina -
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Permalink Reply by Dave Halpern on
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Hello Everyone,
I have a similar situation, I guess 5th 3rd has a pattern here. 5th 3rd wants it all, and insists on the seller encumbering his personal residence up to 140% LTV by transferring the deficiency from the short sale house to his personal residence.
Any assistance in escalation would be greatly appreciated. I am trying to help a hard working American family. I am also trying to help 5th 3rd reduce their losses but they are refusing to be helped.
My full post can be read here http://shortsalesuperstars.com/group/fifththirdbank/forum/topics/5t...
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