Tags:
I always submit to both lenders at the same time. Send each a current payoff letter for the other. They will normally accept this in place of the approval. If not at least the process has been started and usually you can get a negotiator assigned.
We normally only offer 3k to the 2nd; but w/ GMAC it's always been an easy process. Usually a couple weeks once they have a complete file.
I had expeditious experience with GMAC. Faster approval than B of A. I had a GMAC second lien (on equator) and when the first B of A sent approval, I sent that over, along with an updated HUD1 and got approval in 2 weeks.
GMAC is one of the best to work with and is usually really fast. Hang in there!
GMAC is one of the easiest banks I've worked with. I'm dealing with them now on the 2nd. I've submitted the whole package to BofA on the 1st & GMAC on the 2nd in the beginning. GMAC basically told me they'll take $4000 & call it a day. Now as usaul waiting for BofA as they definitely move in reverse.
Good luck :))
let us know how it all works out!
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.