They are telling me they won't give me an extension needed to close without getting more cash. They approved $6k now want $8k to get an extension. Buyer is contributing, agents are contributing seller has nothing. Could close with cash offer in 7 days if given extension. They have dragged thier feet from the beginning and could have closed this months ago. Anybody have VP or CEO contacts that this can be escalated too?

Views: 130

Replies to This Discussion

Citi has a second has always been crazy. I had one in which they refused a reasonable offer... I escalate to the V.P , nothing they still refuse because they have MI. Good luck on this one...
I am encountering something similar. please forward any information you might get, thanks.
Interesting Dilemma! I hope you got this one closed as it's been a few weeks and I was wondering what happened.

They did something similar to a deal I'm working on as well. They want 10% more than previously agreed on just to extend the approval by three business days. Of course this screws-up the whole deal because the 1st lien holder won't allow more to go to the 2nd than the originally agreed amount. Buyer has loan docs in, ready to go, and the 2nd won't budge. Bad faith. Its not the few hundred bucks more that kills the deal (the buyers could kick in to make it happen), it is the changing the terms of an already approved payoff that kills it because that needs to be renegotiated with the 1st and they already said absolutely not. 

I will let you guys know all of the other shinnanigans (some very unethical) both lien holders pulled on this file very soon. I have done a lot of short sales and I see the banks getting more and more unethical on how they negotiate (B of A, excepted, who is actually getting better).

RSS

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************