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Primary Financial Services, LLC....has anyone closed or worked a deal with them?

Posted by Ryan Smith on July 27, 2010 at 11:33am in Short Sale Discussions

Has anyone worked or closed a short sale with Primary Financial Services, LLC based in Phoenix AZ? They are the collection company Wells Fargo Home Equity sells off to. I'm working a file where Wells is the 1st and PFS is the 2nd. Wells has agreed to pay 10% or $8K to PFS, but PFS wants 20% or $16K. I'm looking for a good contact to escalate to or for any ideas you may have. This is a CA purchase money deal so there is no recourse against the seller. PFS stands to lose a lot of money if this goes to foreclosure. Your comments are appreciated.

Thanks!

Ryan Smith

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Tags: collection, company, equity, fargo, financial, home, llc, primary, services, wells
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Replies

  • Jonathan Gordon August 10, 2010 at 8:10am
    I think I've got PFS agreed to the first lienholder's offer of $2,900, but now they are after my commission. This doesn't even make sense since they only get $2,900 regardless of the commission????? Any luck getting 6% on yours?
  • Pam Jank August 3, 2010 at 9:50am
    Ryan, Good luck! I have worked with them and will be again. They are extremely RUDE, Condescending and argumentative. They treat the agents like they are the enemy. Never remember anything about the file, even when they call you! I lost a sale because I couldn't get them below 10%. I am currently trying again with another offer. I'm not optimistic. What they do doesn't make any since ... Once again it is the same Borrower/Seller that is 78 years Old, has incurable CANCER, Social Security Income only, no real assets, no surviving family members. I am sure they will be very happy, again, to get -0- rather than $3000 on a $60K Wells Fargo HELOC 2nd.

    I am also searching for some wisdom on how to effectively deal with them.
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