Replies to This Discussion

Permalink Reply by Tracy Gibson on January 18, 2011 at 5:33am

UPDDATE: One West for FreddieMac says no way they will allow more than $3000 to second and no one else can pay them.  What can I do to get this deal done?

Permalink Reply by Tracy Gibson on April 24, 2011 at 7:40am

Wanted to do a final update on this one.  I closed it last week.

 

The OneWest negotiator refused to send up the HUD with the POC to the 2nd.  I went over her head directly to Freddie Mac and got the $4500 to the 2nd lien approved without the POC.

Permalink Reply by Charita Cadenhead on May 10, 2011 at 3:38am

Gald you got the deal done, but not glad that you had to fork over the $1500 to get your client's deal done.

Permalink Reply by Tracy Gibson on May 17, 2011 at 12:06pm

Nope, I didn't have to put in any money.  The would not let me.  

Charita Cadenhead said:

Gald you got the deal done, but not glad that you had to fork over the $1500 to get your client's deal done.

Permalink Reply by Tracy Gibson on May 29, 2011 at 2:32pm

Someone just asked me how I got this done.  When the IndyMac negotiator would not send up my HUD with the $1500 paid by the seller outside of closing, I decided to go direct to FreddieMac.  I used the customer service email address that is in the FreddieMac forum here.  I sent up a HUD with the whole $4500 paid to the 2nd from the proceeds.  I figured if they rejected that then I would send up the HUD with the additional money POC.  

 

A couple of weeks later the negotiator told me that Freddie Mac approved the $4500.  She said she was shocked.

 

Tracy

Permalink Reply by Bryant Tutas on May 29, 2011 at 11:23pm

Well done Tracy! There are exceptions to every "rule". By the way I use POC all the time. They key is to not ask. Just do it. The negotiators will almost always tell you "no" because they don't understand it. I just place it on the HUD and send it over for approval at time of closing. It always gets approved.