Looking for advice with investor required funds for seller at closing with Nation Star.
Has anyone been able to get the required funds at closing waived?
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I'm working my first Nationstar SS right now. Nationstar asked for $3000, the seller offered to pay only $1000, and Nationstar declined the short sale and closed the file. I tried for a week and could not get the negotiator to respond or the file re-opened.
It's unclear whether the contribution request came from MI or the investor (Fannie Mae), but I have escalated to both. Fannie Mae is working with me to help resolve the issues, however Nationstar has me resubmitting everything all over again...
I have had two NationStar short sales, neither of them required or requested cash contribution or Promissory note. One was Freddie Mac and the other was a private investor.
All of my Nationstar short sales required a seller cash contribution. But I was usually able to negotiate the figure way down. How much are they asking for? What was the seller's response?
They are asking for $15,000 at closing or $30,000 prom note.
The sellers don't have any funds for closing and are feeling
that they should let it go to foreclosure. How much were your
sellers paying? I appreciate your help Bryant.:)
This is my first NationStar deal.
Replies
I'm working my first Nationstar SS right now. Nationstar asked for $3000, the seller offered to pay only $1000, and Nationstar declined the short sale and closed the file. I tried for a week and could not get the negotiator to respond or the file re-opened.
It's unclear whether the contribution request came from MI or the investor (Fannie Mae), but I have escalated to both. Fannie Mae is working with me to help resolve the issues, however Nationstar has me resubmitting everything all over again...
I have had two NationStar short sales, neither of them required or requested cash contribution or Promissory note. One was Freddie Mac and the other was a private investor.
All of my Nationstar short sales required a seller cash contribution. But I was usually able to negotiate the figure way down. How much are they asking for? What was the seller's response?
The sellers don't have any funds for closing and are feeling
that they should let it go to foreclosure. How much were your
sellers paying? I appreciate your help Bryant.:)
This is my first NationStar deal.