Navy Federal Credit Union

Information

Navy Federal Credit Union

NFCU - Membership restricted to active and retired military and government employees, as well as immediate family.

Members: 76
Latest Activity: Aug 28, 2019

NFCU Contact Information

 

 Click the button to hire a Short Sale Agent Superstar in your area

NFCU General Customer Service - 800-368-3657 - Must have member account number

Mortgage Collections Dept.
Fax: #703-255-7947
Phone: #800-258-5948
Short Sale FAX (703) 255-7947
Letter of Authorization Fa 703-255-7947 

P.O. Box 23800
Merrifield, VA 22119-3300
PACKAGE EMAIL: [email protected]

Email format: FirstName(underscore)[email protected]
Example: [email protected]

REQUIRED Short sale docs:
NAVYFCU.pdf

UPDATED authorization to above package:

NFCU_auth_notarized

 

Discussion Forum

Approval to Close Help Needed - Our Closer at Nevy Fed is MIA...

Started by Jason Sanseverino. Last reply by Ben Benita Jun 30, 2016. 3 Replies

Good Morning All -I have short sale approval and closing is set for today. We provided Navy Fed with the required closing docs early in the week BUT we still don't have "approval to close".I have…Continue

Navy Federal Second - Charged Off

Started by Janie Booth. Last reply by Kim Chitwood Aug 28, 2013. 2 Replies

Does anyone out there have any experience settling Navy Federal 2nds that have gone to charge off? Both negotiators that have been handling our account/covering for the other have ben MIA on sick…Continue

New HAFA rules

Started by Tracy. Last reply by Tracy May 6, 2011. 3 Replies

I am a homeowner facing pcs with a house worth about 140,000 we owe 160,000.  I am reading this information on the HAFA program regarding short sales.  I was wondering if anyone knows anything about…Continue

NFCU ShortSale in AZ - Should I continue to make payments?

Started by Michelle. Last reply by Kevin - Greenville, SC Apr 3, 2011. 1 Reply

I own a home in Phoenix, AZ that I purchased in Oct 2004 ... I purchased the home through a mortgage broker and later refinanced the exact $$ amount of my mortgage with my credit union - Navy…Continue

Tags: sale, NFCU, Short, Union, Federal

Comment Wall

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You need to be a member of Navy Federal Credit Union to add comments!

Comment by Brigitte Powell on March 9, 2011 at 4:46am
Jason, listen to Adam. Take all your money out and put it elsewhere. They can access your account and take it all: Checking, Savings, and if you are on any relative's account they can take that money. Scroll down and see what David has gone thru.
Comment by Adam Woodhall on March 9, 2011 at 4:41am
Jason - Are you the agent representing the seller, or are you the seller? Has the sale been completed? Who is the investor, or is this a portfolio loan? Your experience, compared my short sale with NFCU, isn't too different. Typically most lenders will not discuss details until an offer is available. NFCU is notorious for being worst than most in that regard. I've never heard of a successful short sale with them that didn't involve a promissory note, either, unfortunately. They are tough. My advice is review all the posts on NFCU in this group, close all accounts with them, and provide only minimum information when working the deal.
Comment by Jason Bettis on March 8, 2011 at 5:14pm

My NFCU Short Sale experience

- Prior to listing home for sale six months ago NFCU would not discuss a short sale with me

- Since listing home NFCU would not talk to me - only an email indicating they will not look at my short sale application until we have an offer.

- After Five months we finally have an offer, after 35 days NFCU produces a one page fax Terms of Short Sale which are: Seller Cash $2000, Seller must sign promissory note of $50K with interest. Buyer offer is about $150K, my payoff is $195K. To me this is no longer a short sale, since they are making me borrow funds to pay the mortgage in full.

 

I feel like I just wasted six months (and made six payments) only to find out that NFCU will only accept payment in full.

Anyone else in this situation? Any recommendations?

Comment by Adam Woodhall on March 8, 2011 at 7:02am
Welcome to the group, Lou, feel free to share your experiences with NFCU as a short sale lender.
Comment by Brigitte Powell on February 25, 2011 at 2:00am
Ask your AF attorney if he/she could supena the notes. Did you get the name of the person who told you they would give you a refund? Do you have the date when you were told? They may not hand the notes over willingly but with a supena they may have to ....back to the attorney :-) Janie is correct about the ins. money...no way you will get that. I find it sad that your short sale specialist has not called you back even to be sympathetic or to tell you to talk to your attorney. Ask your AF attorney how familiar he/she is with short sales (not so much maybe) and if not, maybe he/she can refer one. When you do a SS you do not get any money back......but, the fact that you sent paymt by accident and they said you would get it back....that might be different... First, if you haven't done so already call the person who told you about the refund and ask for a copy of that info since you need it for your files (Tell 'em You need to put it with your will :-) ----tax info---tell them anything that sounds good and BE NICE"  If that doesn't work - back to the attorney to find out if info can be supenaed.
Comment by Janie Booth on February 24, 2011 at 4:28pm

We feel your pain :). Probably time to move on and think about your life post short sale. And thank you for your service!!!

Comment by David Cash on February 24, 2011 at 3:30pm
You are correct about the escrow stuff, I just looked at my approval letter and it says, "You waive rights to any escrow funds".  Bbbbbboooooo.
Comment by Janie Booth on February 24, 2011 at 3:15pm
So sorry, David. I'm sure NFCU will not hand over their notes to you. As for the insurance refund, you would have signed a form during your short sale that  assigns any unused insurance premium to the bank.  
Comment by David Cash on February 24, 2011 at 2:01pm

Brigitte.  We closed last month and we already paid the $20K.  This is why it bothers me so much is because the deal has already been done.  My Air Force attorney told me today to get a print out of the notes NFCU has on file.  I have a feeling the "customer service" rep at NFCU who reads off the notes to me when I called for updates will not be willing to hand over a copy of those notes.  I know for sure it says on the notes that the reversal was approved.  My short sale specialists has not called me back yet after a week of messages I have left.

 

Also, not sure if any one knows but I noticed they zeroed out my escrow.  I had a balance of 2,300 in insurance refunds, etc and they took that as well.  In a normal closing I would have gotten an escrow refund for the 2,300.  Is is normal in short sales they keep it?  To me this is just a mandatory "savings" account and I should get my refund from my insurance payments!!!

Comment by Brigitte Powell on February 24, 2011 at 12:44pm

David....nope. Consider the money they took as the first payment toward the 20,000....hopefully you haven't sent them that yet. Monthly payments? Like Janie said check and see what you signed. My bet is that they can actually do that since they have been doing that for the last two years....that I know of.  I accidentally made two car payments, but didn't get the money back....only got "sorry".  Move on David....going to court will only cost you more money. You just paid part of the 20,000. I do understand how you feel. BUT....(was just thinking back on what you said) IF you have it in writing that they said they would give you that money back.....then contact your attorney :-) and keep us posted.

 

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