I had an offer approved by BofA through the Equator system. We were waiting on the MI company to make a decision and receive the final approval letter.
Just received a counter offer from MI through Equator. Amount owed was $204000. Offer for $152500. MI wants $30000 paid over 240 months zero interest monthly payment $125.00.
the sellers feel like just letting it go to foreclosure. We are a no deficiency state.
What are our chances of making a low counter offer.....comments please.
Jean
Tags:
Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
The Old Republic Ins Services (PMI) contact I was given 2 days ago has a valid email that he doesn't answer. Has a company phone that rings and never goes to voice mail. Has a cell phone that has been disconnected.
So, how can I contact Old Republic IS directly? Thanks, Anna
Stephanie Hart said:
Wow so amazing....
I finally just went to Old Republic directly and was able to get them to renegotiate with my negotiator and accept a prom rather than Cash. Amazing how fast BOFA changes thier "we can't do a prom note" tune when say you talked to the MI negotiator and they can... MI just wants thier$.
Glad your prob was solved.
Brenda L Wood said:Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
Wow so amazing....
I finally just went to Old Republic directly and was able to get them to renegotiate with my negotiator and accept a prom rather than Cash. Amazing how fast BOFA changes thier "we can't do a prom note" tune when say you talked to the MI negotiator and they can... MI just wants thier$.
Glad your prob was solved.
Brenda L Wood said:Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
Stephanie - what is the number you used to contact Old Republic, please? B of A approved one of my short sales weeks ago but Old Republic is holding it up even tho they already approved an earlier offer for the same amount (then those buyers canceled). The negotiator actually asked me to call Old Republic but then said she couldn't give me the number (?). Thank you!
Stephanie Hart said:Wow so amazing....
I finally just went to Old Republic directly and was able to get them to renegotiate with my negotiator and accept a prom rather than Cash. Amazing how fast BOFA changes thier "we can't do a prom note" tune when say you talked to the MI negotiator and they can... MI just wants thier$.
Glad your prob was solved.
Brenda L Wood said:Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
Just messaged you the phone #:) Hope it helps.
Karyl Moore said:Stephanie - what is the number you used to contact Old Republic, please? B of A approved one of my short sales weeks ago but Old Republic is holding it up even tho they already approved an earlier offer for the same amount (then those buyers canceled). The negotiator actually asked me to call Old Republic but then said she couldn't give me the number (?). Thank you!
Stephanie Hart said:Wow so amazing....
I finally just went to Old Republic directly and was able to get them to renegotiate with my negotiator and accept a prom rather than Cash. Amazing how fast BOFA changes thier "we can't do a prom note" tune when say you talked to the MI negotiator and they can... MI just wants thier$.
Glad your prob was solved.
Brenda L Wood said:Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
I have a similar situation where BofA negotiator is telling me that the MI (Old Republic) will only accept a $9,600 cash contribution or they will decline the file. If you wouldn't mind sharing the phone number I would love to have the chance to negotiate with Old Republic directly. Otherwise, my sellers will have to let the property go to foreclosure. They don't have that kind of cash available and the negotiator says no promissory note. Thanks. My email is [email protected].
Stephanie Hart said:Just messaged you the phone #:) Hope it helps.
Karyl Moore said:Stephanie - what is the number you used to contact Old Republic, please? B of A approved one of my short sales weeks ago but Old Republic is holding it up even tho they already approved an earlier offer for the same amount (then those buyers canceled). The negotiator actually asked me to call Old Republic but then said she couldn't give me the number (?). Thank you!
Stephanie Hart said:Wow so amazing....
I finally just went to Old Republic directly and was able to get them to renegotiate with my negotiator and accept a prom rather than Cash. Amazing how fast BOFA changes thier "we can't do a prom note" tune when say you talked to the MI negotiator and they can... MI just wants thier$.
Glad your prob was solved.
Brenda L Wood said:Stephanie,
The final chapter... After this case went to closing I got a call from a different person at Old Republic than the negotiator I had been dealing with. Apparently my negotiator was no longer there (surprise!) They asked how we got permission to close since BofA didn't own the second. (Never in my 13 months of negotiating with BofA did they indicate otherwise...) It was on the approval letter from BofA. Although Old Republic had agreed to accept a note and monthly payments, my client just wanted to be done and paid the $7500 in a lump sum through wire that same day after OR issued a written statement to release the lien.
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