"Well, I spoke with WF today and they confirmed that unless the co-borrower signs there is really nothing that I can do. I do not have a negotiator to speak with because the listing agreement has not been signed therefore I have no buyer at…"
"@Jenny, I have successfully completed several short sales where there was a non resident person on loan and/or title. We wrote letters of explanation as to why they had abdicated their interest in the property. We did not use their…"
"I've only had ONE out of hundreds of short sales I've completed where one person would not participate. The wife was so angry she filed BK, divorced him and moved out of state which forced the husband to file BK. The guy…"
"I have had success with other banks saying that the co-borrower refuses to participate and that the borrower and co-borrower are not speaking and the co-borrower is refusing to pay anything toward the loan and has basically walked away from their…"
"It's highly likely they will want the co-borrowers financials and that they would need to sign the approval letter too or any affidavits. They shouldn't need to sign the listing if they aren't on title right? It's possible the…"
"I send a letter of explanation as to why you are removing the co borrower along with the quick claim deed. It helps if the co borrower is not living in the property and is not contributing in anyway. I include this information in my letter of…"
"The co-borrower's name was quit claimed off of the deed when we were doing mediation to hopefully eliminate the need for her financials since she did not reside in the property. Do you think the bank would be willing to assist or not…"
"Borrowers need to participate in short sales. If they were on title only they could just get off, but if they are on the loan, it's potentially a huge problem if they don't cooperate as they can't get off the loan. I've seen this…"
"So...very long and drug out story!!! Currently trying to short sale after 3 years of mediation with WF. There is a co-borrower on the loan that refuses to sign the listing agreement. How to we move forward so we can avoid…"
"I've seen homes go to foreclosure when they don't meet investor guidelines or are too close to the sale date. Auction.com, Homesearch, and Xome; Nationstar has been utilization these online auction sites for quite some time if the investor…"
"Many times Bayview, depending on who the investor is, has a 37 day rule. I recommend speaking to floor managers and escalating to see what can be done to push to get a value ordered in hopes of showing the offer is strong enough for a postponement…"
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