Can any one give words of wisdom about negotiating when a MI company coldly declines a short sale. We got approval from BofA with terms close date etc and then the negotiator said the MI company needs to see it. So we got investor approval and a week later a MI company decline letter (form letter) that said declined and denied to (insufficient offer, not willing to sign a deficiency agreement or contributing to the loss). Helllloooooo noone came back with anything!!
No help after escalating and we finally just reinput the offer with a higher net.
Duh why would they not at least counter? The customer service dept and negotiator said this is rare.
I cannot find any information about negotiating or what I should be asking other than bugging them to give us something!! This is a nonrecourse loan that was 90% at it origination.
Please anyone out there that can help me? Thanks so much. Active Rain referred me to you all!
Coldwell Banker Solano Pacific