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USAA loans

Posted by Terri Barrow on May 29, 2013 at 6:47am in Short Sale Discussions

Ok fellow superstars, I need real help here.  I have a property listed.  It is listed now for $35k.  I received an offer for $32k and submitted short sale packages for 1st (Greentree) and 2nd (LTD Financial).

 

My seller is a Vet and took out both loans with USAA and they were sold.   A year after they bought the property, USAA gave them a 3rd loan  At this point the liens total $150k +   

 

How can I find out who USAA sold the third loan too.   Its not a Fannie loan.   Needless to say, the 3rd will not see a dime.  I have checked Public Records and the third does not show being assigned, an LP or foreclosure notice.  Nor can I find an Assignment.

 

HELP!!!!!!!!!!!!

 

Thanks,

Terri Barrow

Keller Williams Realty

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Replies

  • Wendy Rulnick May 29, 2013 at 12:19pm

    Terri - I would get a title agent to do a title search to check this.  The third can be paid something, the first will dictate how much to each in the end.

    • Terri Barrow > Wendy Rulnick May 30, 2013 at 9:00am

      Hi Wendy:


      Thanks for the input.  I had the Title Co. pull and it did not show anything.  That said, I did a ton of research last night and found out that USAA is known for selling their 2nd/3rd HELOCS to collection agencies.  This is why there was not an assignment or LP filed.  I have found what I need and we have submitted an authorization to speak to then.

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