Carrington Mortgage - Auction Date 3/1/13

Here is the deal:

1st Mortgage: Carrington

2nd: None

Auction Date: 3/1/13

Offers: 0

 

Carrington has stated that they will not do postponements, and they need at minimum 30 days to process a short sale. That only gives me a few more days to get an offer on the property and hope that it closes on time.  

 

I am really hoping I can help this client. And I was wondering if any of you have had any different experiences with Carrington Mortgage possibly doing an extension or postponement.

 

Thank you in advance Superstars!

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Replies to This Discussion

Permalink Reply by Jessica Griffith on January 24, 2013 at 1:39pm

If it is the first request to postpone they should grant it.  Is buyer willing to use their financing?  If so maybe my Carrington contact can help you?

Permalink Reply by Trong Dang on January 24, 2013 at 7:54pm

Jessica, I will keep that in mind.  Thank you for the option.

 

As for the transation, they did flat out said that they will not postpone an Auction Date, that you will need cash offer in order to close in time.  I have had experienced this personally with Ocwen, therefore, given the situation now, would it be even feasible to help this client with a Short Sale?  I actually had another owner called me today with a Sale Date of 03/08 and I am to meet with them tomorrow to list the house, I am just trying to see if it is worth my efforts since the people I talked to at Carrington does not seem to budget with the "absolutely no postponement" statement.

Permalink Reply by Wendy Rulnick on January 25, 2013 at 1:23am

Trong - I got your email. If you think you can get a reasonable offer fast, go for it.  They cannot answer for all their investors. 

Permalink Reply by Trong Dang on January 25, 2013 at 5:43am

Thanks Wendy, have you been successful in the past with them given this same situation and timeframe?

Permalink Reply by Wendy Rulnick on January 25, 2013 at 5:49am

Trong - I have not had that exact situation.It's a personal business decision to go forward :)

Permalink Reply by Trong Dang on January 25, 2013 at 9:20am

Hi Brian,

I am a little slow on this subject, my apology, but what do you mean when you said "Quality Written Request"?  It is a reasonable offer or it there some kind of form I need to fill out?  And where can I get these forms?

Permalink Reply by Wayne Brooks on January 25, 2013 at 10:11am
Qualified Written Request (QWR) It's a specific form, submitted correctly. Google.
Otherwise, get a good offer, file a motion(not you, but an attorney or the homeowners themselves)and get the court to postpone. It generally works here in S Fl.
Permalink Reply by Trong Dang on January 25, 2013 at 2:40pm

Thank you very much Brian, Wayne, Jessica and Wendy.

Permalink Reply by Kevin - Greenville, SC on January 25, 2013 at 7:27pm

Has the Borrower been considered for HAMP/HAFA?

Permalink Reply by Trong Dang on January 25, 2013 at 11:31pm

I don't believe so, he told me he tried to do a loan mod a couple years back but he never send in all of the docs they asked.

Permalink Reply by Kevin - Greenville, SC on January 27, 2013 at 1:25pm

5 Protections Against Unnecessary Foreclosure

Pursuant to the servicer’s HAFA Policy, every potentially eligible borrower must be considered for

HAFA before the borrower’s loan is referred to foreclosure or the servicer allows a pending

foreclosure sale to be conducted. At the servicer’s discretion, the servicer may initiate

foreclosure or continue with an existing foreclosure proceeding during the HAFA process, but

may not complete a foreclosure sale:

https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/mhahand...

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