Hello Can someone help with this ?
Seller has a second lien with Schools First balance is $125,000. We have approval from BofA the first on this amd allowing $8500.00 to go to second.
SF denied the short sale and said the mimimun they will accept is $45,000 !!
The trustee sale date is 3-11-2013
Does anyone have any experience with them that could shed some light on this.
We have come up with another $5,000 to add to the $8500 for a total of $13,500 I will be presenting that offer today.
Some one please help me if you have any other ideas or have dealt with them on a second before.
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Rosalinda,
Is this transaction going through HAFA? Have you attempted to reach out to a supervisor or manager in hopes of escalating the file to receive a lower payoff?
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com
Hi Brett
its not a HAFA and I just got the denial last night. I have not contacted supervisors yet.
Have you ever worked with them ? Thanks
Is this a transaction that could of potentially been reviewed for HAFA?. Schools First is a federal credit union and at times servicers such as these can be more difficult to work with. We have dealt with Schools First in the past, but it's been quite some time. It's hard to know exactly what your up against as I am not involved and do not know Schools First guidelines at this point in time. This transaction definitely has some hurdles to be jumped over with the upcoming sale date and the uncooperative 2nd. Hopefully, with the right escalations and communication the 2nd will be willing to accept a lesser payoff.
If you have any questions please feel free to reach out to me as my door is always open.
310-564-6389
Brett@ishortsalenow.com