MetLife magic needed!
I have had 5 offers on a house with the 1st being with Met Life. In March I got an offer - I actually got written approval in June - however then the buyer could not preform by that point - so back on the market it went with a 10K price reduction thanks to the lower market.
I got another offer with the new price - CLEAN - no closing costs or anything difficult. Hoping that since I had written approval before that this might not take the 60-90 days they quote. So far not the case. I am going to lose this buyer too if I can't get some sort of movement from them.
Has anyone had approval from them - then had to submit another offer for another approval? Did it take the same amount of time the 2nd time around? So frustrating - this has to be the WORST bank ever to work with.
Replies to This Discussion
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Permalink Reply by Kelly Timm on
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I had a terrible experience with them on 2 deals. Same seller, 2 NOO properties. I received approval on on after 4 months and then they took back the approval saying they issued it in error because the property had to come out of the sellers LLC and put into his name. This took 3 weeks. I kept in touch with the negotiator and we had a sale date approaching. I sent the new deed to the negotiator and jumped through hoops to get her everything she was asking for. This was a Friday and the sale was scheduled for Monday. On Monday, I received a very curt email saying management would not allow the sale to be postponed. We lost the house. Not a thing change with the offer. Good luck, there are no magic numbers for them. They are the worst bank I have worked with EVER!!!
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Permalink Reply by Joan Psarros, CDPE, CRS, SFR on
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I wish I could give you better news. I to have a Met Life shortsale. After many months I was told we had an approval however, it just didn't come. Finally when I received it the buyer had walked. Then a couple of months later a new buyer new offer. I had to fax the offer over so many times I forgot. They kept saying they didn't receive it and finally sent it via Federal Express twice. Finally on the second try they got it. Months and months finally they needed more information (updated). The second is First Horizon Tennessee (they had approved the shortsale on the last buyer). Unfortunately, the second filed a civil lawsuit on the borrower while this was going on. Now we are lawyered up all over the place. Everything is stopped while we are waiting for what?
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Permalink Reply by Julie Cendejas on
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This IS the worst bank ever to work with. After many go rounds with them - they have lost all the paperwork we have sent in and unless a miracle happens - my sellers house will go to foreclosure this Thursday - October 7th. I'm devastated that I was not able to help her. The worst part is we have a wonderful, clean, close right away offer on the table. But they can't even seem to find it after faxing all the paperwork to them no less than 12x!
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I wouldn't say the worse. But, you hit home when you talked about them not getting paperwork. I faxed so many times and got confirmations that I was ready to fly to Texas and hand deliver. But, finally after sending the package to them via Federal Express twice. I was told they still didn't have it after the second time. I told them the girl's name that signed for the package and finally. I had an approval and was told I had it but it took so long to get the written approval that the buyer had walked. We are now involved with another offer after several months of this they want all new updated information. I feel bad for your clients my clients and you and I and there is so much more of a mess than I have time to write on this.
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UPDATE - I FINALLY closed this deal on Friday - November 26th - YAHOO!!!
It took forever and they just about sent it to the foreclose sale (for 30K less than our offer was) but I saved it from that last minute!
Thank you for all your info and support!!! -
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Permalink Reply by Anne Mehedinti on
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How many months have you waited until you closed on the deal? I have once since August and it takes forever to get an update. On the 20th of this month is going in foreclosure.Do you have any suggestion from your experience with them that I should do to move this file?
Thank you, -
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Anne - be persistent - mine was going to sale and I stopped it by freaking out - they were going to foreclose on it for 140K and we had a 170K offer on it - I could not believe it! They truly do not know what they are doing I think. Call the MetLife Hotline - I'm not sure it still works - but I was at least able to get thru - 800-971-7434 or 1-866-621-0537. Do you have a negotiator already? Call/email them until they call you back.
Good luck!
Anne Mehedinti said:How many months have you waited until you closed on the deal? I have once since August and it takes forever to get an update. On the 20th of this month is going in foreclosure.Do you have any suggestion from your experience with them that I should do to move this file?
Thank you, -
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Permalink Reply by Cecilia Rodriguez on -
Congratulation July, be persistent is the key !
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Permalink Reply by carol pefley on
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Hello,
I am going thorught the same hell that you have experienced. Do you happen to know the email format? Noone will allow me to talk to my negotiator. I have her name and i want to try to email her., they also won't give me her extension or any way to reach her. They say I have to just wait fpr her to contact me. I have been waiting for two months and they havent even ordered the BPO yet!!
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