Has anyone dealt with Flagstar? I'm so frustrated with them. I'm working on a shortsale and we got to the point of having an appraisal done. They took a month and a half to let me know what they want to do. Here is my problem. The valuation was too high because the appraiser used comps that were 12-24 months old, homes that were sold between $180,000 to $210,000. Yet in the past 6 months homes were selling for $65,000 to $175,000 (of the 5 sold, one was at $65,000, three at $110,000 and one at $175,000). I've been calling to dispute this but all I get is voicemails and no one calls me back. Owner called me today that someone from Flagstar called him to inform him that short sale has been closed because no one has responded to their counter. Any suggestions?
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I'd likely escalate, reopen the file, and look into doing a value dispute. Babysitting these banks is a full time job!
Call me anytime if you want help.
310-564-6389
www.ishortsalenow.com
brett@ishortsalenow.com