Comment

Comment by Joy Baker on November 18, 2011 at 3:30pm

Does anyone have upper level contact info for CCO?  I have one with them that is sinking in a morass of confusion and stupidity, the likes of which I have never seen.  At one point they were holding up the file because one of the bank statements had "something crossed out on it".  The bank statement in question was not their borrower's bank statement.  It was the buyer's proof of funds with his  account number redacted.  Then they were holding it up because they needed more info on the co-borrower.  There is no flippin' co-borrower.  You can't make stuff like this up.

Comment by Pamela Lester on October 11, 2011 at 8:38am

Maria,

Did you have to deal with Mr Short?

Comment by Maria Evans on September 21, 2011 at 10:28am

Keith, give me a call I think I have someone to help you. Just got an approval from them today and didn't need to use the contact. 203-241-5196.

Maria

Comment by Robin M. Willis on June 9, 2011 at 6:11am

I am working on escalating a short sale that has taken CCO Mortgage 4 months to assign to a negotiator due to their stall tactics.  Here is what I have discovered:  Their corporate office can be reached at 401-456-7000 and you will need to be directed to the Priority Response Department to lodge a complaint and request action on your case.

 

Comment by DanaVoelzke on November 2, 2010 at 5:55am

My CCO short sale was also a 2nd lien. I got the short sale done without any specific CCO forms. My package was:
- LOA
- Listing agreement
- Sales contract & HUD-1 plus estimated payoff statement from 1st lienholder
- Signed financial statement
- Hardship letter
-2 mos bank statements
- W2's & last 2 years taxes

Having said that, you know that bank procedures are changing all the time so there may be new forms. Good luck!

Comment by Patricia Henry on November 2, 2010 at 5:25am

Ryan just call the loss mitigation department they will advise you over the phone as to what you need to submit and also will send or fax you the documents that your seller needs to fill out. None of this information is online. I did get a tremendous amount of help over the phone.

Comment by Ryan Vollmer on November 2, 2010 at 4:40am

Just started a short sale with CCO as the Jr Lien holder. Where do I find their short sale documents?

Comment by Patricia Henry on October 26, 2010 at 3:27am

The only way it will be a problem for he buyer is if the appraisal for the loan is done and comes out shorter than the contract price then I may need to go to the first mortgage. But I feel it is in the best interest to let us get to that point because what if the appraisal comes out to contract price? Then I let the cat out of the bag with the buyer about the 2nd mortgage appraisal they did and the buyer may fight the situation more and want the seller to come down. So I am stuck in a hard place and I feel I have to work in the interests of the seller and not the buyer at this point.

Comment by DanaVoelzke on October 25, 2010 at 4:22am

Patricia,
If the house doesn't appraise you will have a problem to deal with - short sale or not! I think you should tell the buyer's agent what is going on and get them to work with you. Maybe it was a bad appraisal? Sounds like it's only a problem if the buyer's mortgage thinks its a problem, right? If I'm not understanding something pls clarify.

Comment by Patricia Henry on October 24, 2010 at 1:30pm

I have a short sale in process. The first mortgage is BOA and the second is CCO Mortgage. The offer is enough to pay off BOA and the second is getting 50% of balance. So the 2nd mortgage is the only one I am negotiating with currently.

2nd mortgage has done a full appraisal and has asked if I have negotiated with the first mortgage? I explained that at this point there is no need because BOA is being paid in full. The negotiator explains that the appraisal has come in much lower than the purchase contract offer.

So now I am not sure if I should just move forward and let the buyer proceed with inspections and let them do an appraisal and see where the appraisal ends up for his loan? Or should I intervene and let the buyers agent know what is happening and that it may not appraise for the purchase contract price. The negotiator is stating it is atleast $20K less than the purchase contract price.

I don't feel we are that far off......But if so, it would make a huge difference and I would need to negotiate with BOA. (Trying to avoid that if possible)

I feel we need to just move forward and try to get this to work and if the appraisal comes back less than the purchase contract price, then I would need to negotiate with BOA.

Any thoughts?

Patty Henry

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