Greentree is killing my deal!!!!!

After 6 months....

Here I am today. Chase on the 1st, Greentree on the 2nd (for BofA). Original offer from Chase on a 1.7 mil sale, $3000 to GT. Greentree demanded (you guessed it) 5%. Buyer came up in price by 60 k , we reduced commission by 1%, of the additional $74,000 that we generated Chase kept $62,000 and increased their offer to 15k to GT.

 

GT debt collection, passes this along with the Buyer's promise to make up the difference up to 5% to Loss Mitigation. BUT after 3 months I discover when I see an approval ... that we were approved for a short sale if we paid $159,000+ to GT. Loss mitigation say the sent in the original HUD which simple reflected that Chase had a 90% loan and GT/BofA had 10%. The HUDs based upon Chase's approval were never presented to the investor.

 

Now Chase is pulling back their approval maing it null and void and clsoing the file. I feel I have no where to go. Any advice superstars?

 

Learn a couple of tough lessons here....

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Replies

  • Go over Greentree to the investor, Bank of America. Send in a letter of authorization first of course.

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