All Discussions Tagged 'sale' - Short Sale Superstars2024-03-28T12:41:40Zhttps://shortsalesuperstars.com/group/spsselectporfolioservicinginc/forum/topic/listForTag?tag=sale&feed=yes&xn_auth=noSPS 2nd mortgagetag:shortsalesuperstars.com,2018-10-23:3468065:Topic:3950112018-10-23T21:06:45.536Zash lomonthttps://shortsalesuperstars.com/profile/ashlomont
<p>Hello,</p>
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<p>I have a short sale that has an SPS 2nd mortgage. The 1st mortgage is with Mr. Cooper and is a Freddie Mac Loan. The 1st mortgage holder will give the 2nd mortgage holder $6000 per Freddie Mac guidelines to the 2nd mortgage. Freddie Mac only gives $6000 max and does not allow the buyer or seller to bring in additional funds. The investor for SPS wants 18K but that is not allow per the Freddie Mac guidelines even if the buyer wanted to bring it in they can't. I have…</p>
<p>Hello,</p>
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<p>I have a short sale that has an SPS 2nd mortgage. The 1st mortgage is with Mr. Cooper and is a Freddie Mac Loan. The 1st mortgage holder will give the 2nd mortgage holder $6000 per Freddie Mac guidelines to the 2nd mortgage. Freddie Mac only gives $6000 max and does not allow the buyer or seller to bring in additional funds. The investor for SPS wants 18K but that is not allow per the Freddie Mac guidelines even if the buyer wanted to bring it in they can't. I have appealed to the Omsbudsman for help and they wrote a letter to the investor to explain that they can only get 6K because of Freddie Mac guidelines and the buyers or sellers aren't allowed to bring in more money. The investor rejected the offer again. The house will now go to foreclosure. This is the 2nd short sale in a row that i have had SPS 2nd mortgage servicer that the investor has denied our offer. I'm trying to figure out why the 2nd mortgage holder won't take 6K and wants it to go to foreclosure.Is the 2nd mortgage investor have soem sort of insurance that pays them money if the house goes to foreclosure? Are they getting more than 6K from the insurance companies? Does anyone have any solutions?</p>
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<p>Thanks</p> Loan got Transfered to SPS by Chase after getting short sale approval from 2nd lien holder..tag:shortsalesuperstars.com,2016-08-09:3468065:Topic:3784062016-08-09T16:25:18.287ZRashida Furniturewallahttps://shortsalesuperstars.com/profile/RashidaFurniturewalla
<p>The short sale I was working with CHASE got transferred to SPS on August 1st 2016. This property has two liens on it. I got an approval from the second lien holder which expires on August 29th. And SPS wants 30 days to activate the file in their system. The review will take more time. Is there any way to speed up this process befor the 2nd lien holders approval expires. Also will they work with the docs sent to CHASE or do I need to get a new set of docs signed for SPS?</p>
<p>The short sale I was working with CHASE got transferred to SPS on August 1st 2016. This property has two liens on it. I got an approval from the second lien holder which expires on August 29th. And SPS wants 30 days to activate the file in their system. The review will take more time. Is there any way to speed up this process befor the 2nd lien holders approval expires. Also will they work with the docs sent to CHASE or do I need to get a new set of docs signed for SPS?</p> HAD to Escalate an SPS file todaytag:shortsalesuperstars.com,2013-01-29:3468065:Topic:2932962013-01-29T18:09:04.280ZTeam Thayerhttps://shortsalesuperstars.com/profile/TeamThayer
<p>I keep seeing that SPS is great to work with but I have closed a few files with them over the last couple of years and all of them had to be escalated in order to get them to move forward. The file I am working on with them right now began back in July. The 1st buyer walked because the file was taking so long to get a response. The second offer didn't come until November and we are still waiting on a response for this file. I escalated it today so we will see what comes from that. This…</p>
<p>I keep seeing that SPS is great to work with but I have closed a few files with them over the last couple of years and all of them had to be escalated in order to get them to move forward. The file I am working on with them right now began back in July. The 1st buyer walked because the file was taking so long to get a response. The second offer didn't come until November and we are still waiting on a response for this file. I escalated it today so we will see what comes from that. This wouldn't be such a big problem if this property wasn't in a rural area that doesn't have a lot of buyers looking in it. The value continues to decline on this property and there are not any buyers waiting in the wings for the current deal to fall apart. I hope they move this file forward or we will lose the current buyer and have to reduce the price and wait for another buyer to come along. Wish me luck</p> SPS is the 2nd lienholder. What forms do I need to send them in order for them to consider short sale?tag:shortsalesuperstars.com,2012-06-26:3468065:Topic:2447762012-06-26T22:02:05.979ZColeen DeGroffhttps://shortsalesuperstars.com/profile/ColeenDeGroff577
<p>Any info you have would be greatly appreciated.</p>
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<p>First lienholder is Chase.</p>
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<p>Thanks so much!</p>
<p>Any info you have would be greatly appreciated.</p>
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<p>First lienholder is Chase.</p>
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<p>Thanks so much!</p>