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NASA Federal Credit Union

Posted by Atlas Loss Mitigation on February 23, 2016 at 5:48am in Short Sale Discussions

Hello Everyone!

Have any of you ever experienced negotiating a short sale with Nasa Federal Credit Union?

I have a file where they are not willing to accept HUD guidelines (and of course they do not have to accept them) and want $6,000. But they told me over the phone if they accept the short sale the client would still be required to pay a deficiency amount. 

WHAT IN THE WORLD!!

Have any of you encountered this a Nasa Federal Credit Union file and do you have any pointers on how to handle them in a short sale. 


Thank you.

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Replies

  • Wendy Rulnick February 25, 2016 at 8:11am

    I've worked with Navy Federal recently and they were fine on a Freddie Mac.

  • Jonathan Katz February 23, 2016 at 9:12am

    Credit Unions unfortunately do this at times. You mentioned HUD guidelines. Is the 1st a FHA loan? If not, what type of loan is the 1st and how much is being offered to the 2nd?

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

    • Atlas Loss Mitigation > Jonathan Katz February 23, 2016 at 11:07am

      The 1st is an FHA loan and we are attempting to offer the second the $1500, but the point of contact states they will not excuse a full deficiency and any client that has a short sale will eventually end up having to pay a deficiency amount. And they will not accept the short sale if the client cannot pay the $4500. 

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