Comment

Comment by Brett Goldsmith on October 15, 2018 at 8:53am

@Allan you should escalate to a manager as there appears to be misscommunication somewhere. That doesn't make sense that they would have a "value" of 298 and then do a price reduction per value dispute and say they want a NET of 269K. Did he want a NET of 298K before?

It's tough to escalate to Freddie Mac directly. At times they let the homeowner escalate to them directly.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Allan Robinson on October 15, 2018 at 7:33am

Help!!  Im working with Bayview on a Freddie Mac short sale. BTW, been specializing in SSs since 2002 but haven't done a lot of Freddie Mac.  A BPO was done on and the value is $298K. However, there are some major structural issues with the house that the BPO guy ignored.  The negotiator at Bayview said we could dispute the BPO so I sent in my documentation along with a $40k structural estimate.  

A week late the negotiator said the new value came back and it is now $269,000.  He instructed me to prepare a new counter with a purchase price of $269K and a revised HUD.  So I sent that in and Freddie Mac rejected the offer and they said they wanted Minimum Net Proceeds of $269 which makes the purchase price $297 which is the original value.  

I dont really have a lot of confidence in the negotiator at this point.  Any ideas on what to do next.  Can I directly dispute the value with FM?

Comment by Brett Goldsmith on July 28, 2017 at 5:13am

@bill I'm pretty confident that the answer is yes, the 1st MTG should be able to confirm that for you if the investor on their note is FHLMC.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Bill Garrett on July 28, 2017 at 4:17am

FREDDIE MAC:  Is the 2nd Mortgage Required to Waive Deficiency?

I know Freddie has a $6k cap for junior liens. 

Does Freddie require the 2nd lien to waive the deficiency (in addition to releasing lien) in exchange for the $6k?  

Thanks.  Bill Garrett [email protected]

Comment by Dean E Eshelman, CPA, CDPE, IRES on June 16, 2017 at 3:01pm

@Corinn I would like to know too. BPO 360 reduced price now down to 299 and fixing to reduce another 10k.

Comment by Corinn on June 16, 2017 at 3:48am

Does anyone know the minimum net requirements for Freddie Mac insured loans?  

Comment by Lori Young on July 12, 2016 at 1:18pm

Anyone who knows policy is it common for Freddie Mac to offer 2.5% cobroke on a foreclosure?

Comment by Ashley Den Uyl on December 1, 2015 at 9:09am

How do you do this?

Comment by Kevin - Greenville, SC on December 1, 2015 at 8:57am

I understand ONE person told you that. time to escalate to people higher up at PNC and to Freddie Mac.

Comment by Ashley Den Uyl on December 1, 2015 at 8:55am

They closed out my file and told me there is nothing they can do....

• ‹ Previous
• 1
• 2
• 3
• …
• 11
• Next ›
• Page