this is my first short with Provident Funding - everything has gone smooth until the counter offer. 

Provident is saying that even with a $7k cash contribution from seller (sales price only $62k)

they will not waive the deficiency

when asked what will it take to get the waiver, the negotiator said that Freddie Mac won't allow the waiver

I've gotten waivers on other short sales where FreddieMac is the investor ...

My thoughts this negotiator is simply mistaken.  Any thoughts?

p.s. the negotiator says it is irrelevant whether or not the loan is current

help.

Views: 613

Replies to This Discussion

How did this turn out? did you get any resolve. Starting one with them soon, just wanted to know what I'm getting in for... Thank you

this file finally will close on Friday.  Seller contribution is $2000 paid at closing, no waiver in writing but it is expected that Freddie will not pursue the deficiency.

In the future you can escalate directly to Freddie Mac and they should give you the deficiency waiver.  I has this same thing happen with a Flagstar File.

RSS

Members

© 2022   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************