The first is a Freddie Mac loan serviced by Nationstar; the second is HSBC serviced by Sunrise Credit Services. The second is $92k and they want $9500. Freddie will pay max of $6,000 but will not allow contribution by agents or buyer. Any suggestions on getting past this road block? It is a non-HAFA short sale with a true hardship (job loss, divorce and illness)
Tags:
Get the 1st and 2nd speaking with each other.
will the 2nd take $6k and a prom note?
We are in California and the servicer said Freddie Mac will not allow any contributions from buyer, seller or agent and nothing can be on the HUD-1, except the $6,000 contribution from the first.
We have a short sale approved by Freddie Mac - The probate attorney will not allow us to close escrow if allowable fees are not paid. There are no proceeds from short sale and Freddie Mac will not pay these fees. The buyer and agents are willing to contribute. Will Freddie Mac allow this? It will show in the buyer's side of the HUD
Another thread is discussing fannie and freddie speeding up short sales by allowing nobody to contribute to the 2nd except a max of $6K from the proceeds and the 2nd MUST release debt - regardless of their "HAFA". I guess you should consider yourself "helped"... Sorry..
Fannie won't allow contributions either???
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.