Just closed a Selene finance short sale.
We had an approval a year ago but one of the sellers refused to sign at closing due to a divorce issue. The buyer and seller (the cooperative one) decided to rent the property to the buyer until we got the issue resolved.
Fast forward a year and the court ordered the non cooperative spouse to sign the closing papers.
Original lender who approved the short sale, BBandT, sold the loan to Selene finance.
Mortgage amount $270,000
Purchase price $220,000
Approved expenses:
6% commission
$1000 toward buyers closing costs
Deed doc stamps
title insurance
tax proration
NEW contract submission date to Selene 6/29/11
NEW approval date 7/11/11 Christmas in July!
Closed date 7/29/11
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WOW- we made an offer on a BOA shortsale and after we submitted what they asked for then we got word the sold it to Selene- this was in JULY- we are still waiting to hear from Selene- all we are getting is the neg stating they have what they need just waiting on a response........
LA just opened a ticket with HUD to try to get something done. We were hoping to be in the house by Christmas ( the prev owners gutted it and cut every single electrical wire in the entire house including the attic) so it has to be renovated.
Beverly Cibulsky said:
Great news Jeff!
Did you go sing on the front lawn?