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FLAGSTAR-SELLER NOT DELINQUENT ON PAYMENTS

Posted by JULIE WALKER on March 6, 2011 at 2:42am in Short Sale Discussions

Has anyone successfully done a short sale with Flagstar where the seller was not delinquent on payments? My seller was told she HAS to be delinquent or they will not approve. They told her if she is not delinquent then that just shows she can afford the mortgage.

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Replies

  • JULIE WALKER March 8, 2011 at 7:37am
    No it's Freddie Mac. I agree..they are just awful!
  • Teresa King March 7, 2011 at 7:12am
    Is the loan a Fannie Mae owned loan?  If so, Fannie Mae is requiring them to be delinquent.
  • Aneetra Isis Sherrell March 7, 2011 at 5:54am
    Flagstar sucks!  I am in the same boat, they did not tell me they would deny the homeowner, only that other loans take precedence over theirs because they are not late.  I have been sending in documentation since September, and every time we call for an update (weekly) we are told we're missing something else.  By the time we send those docs in, we now need updated information that was sent in a month prior. I have had it up to here with them, the loan is owned by Fannie Mae.  I will be filing a complaint as we have been in the review stage for 6 months!
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