Hello All-


I see a few threads about doing a short sale with reverse mortgages.

Has anyone had luck with closing a short sale with Financial Freedom with a reverse mortgage?

Also, anyone have an escalation contact that they deal with? I am having poor communication with the person handling my file at Financial Freedom.

Thanks in advance!

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I've closed a few. Smaller departments and often not as strong as communication due to volume of files vs workers.

Have you reached out to any managers in that department? You can try to reach out to HUD, but often they push you back to the servicer on HECM's.

[email protected]

310-564-6389

www.ishortsalenow.com

Hi Brett- thanks for the response. I've tried requesting a manager or an escalation department and the negotiator there is saying there is no such department at CIT bank.

I am going try HUD. Hopefully they can offer some help.

It's frustrating to say the least. They did an appraisal on the subject property which came in well over $100k of the market value and when I send in a value dispute with an independent appraisal, engineer's report, new comps and a contractor's estimate; all CIT can do is go back to the original appraiser and have them confirm that their report is valid.

That sucks, no easy solution.

When does the value expire?

My seller actually filed a complaint with the CFPB against Financial Freedom and to our surprise he received a letter with an ACTUAL escalation specialist that is looking into the value dispute. 

I find it funny because before the CFPB complaint, our assigned negotiator said that there is not an escalation department or anyone that could look further into the value dispute we submitted. 

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