I have a Chase traditional short sale, not Hafa. 2nd is a PNC Heloc.Seller had green card taken away so she returned to Taiwan 2 years ago. Freddie Mac is the investor. Chase is only allowing $3000 to PNC. PNC countered for $15,000. PNC's Heloc is $100,000 with approx. $79,000 0wing. While I am negotiating with PNC to reduce their counter, which I received yesterday, my question is if anyone has had a 1st mortgage short sale with Chase where Freddie Mac was the investor,in which more than $3000 was approved to pay the junior lien on a traditional short sale? I appreciate your response(s).
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Hello Eileen,
I am with Brian too- I have a frist with Nation Star Fannie Mae investor- they will only give 6% to 2nd lein holder based on what is owed. PNC, the 2nd wants 10%. I lost the first buyer after we got that far into negotiation. That buyer had no funds to contiribute.
The 2nd offer I knew I had to find the right buyer who could come in with the cash to contribute- I did a counter offer with the contribution to the 2nd- it shows on the HUD as well. We are still working on it and it has not closed yet.
Hope that helps,
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