My contact for PHH was not typical because I was able to obtain a third party authorization on the loan thanks to an understanding homeowner. The other borrower however would not fill out the hardship packet to allow the short sale to happen so I ended up buying the house at the sheriff sale. My experience with PHH was great they told me the investors minimum net and were very helpful in trying to facilitate the short sale. PHH valued the home at 162k and the minimum net was 122k. At sheriff sale they bid up to 121k. I was always able to contact them when I needed to and found hold times much shorter early in the morning. I am unsure if these numbers will be helpful without an authorization and my contact that was handling my short sale no longer works there so that wont help as it forwards to Loss Mitigation. Good Luck!
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Rashida,
My contact for PHH was not typical because I was able to obtain a third party authorization on the loan thanks to an understanding homeowner. The other borrower however would not fill out the hardship packet to allow the short sale to happen so I ended up buying the house at the sheriff sale. My experience with PHH was great they told me the investors minimum net and were very helpful in trying to facilitate the short sale. PHH valued the home at 162k and the minimum net was 122k. At sheriff sale they bid up to 121k. I was always able to contact them when I needed to and found hold times much shorter early in the morning. I am unsure if these numbers will be helpful without an authorization and my contact that was handling my short sale no longer works there so that wont help as it forwards to Loss Mitigation. Good Luck!
Loss Mitigation 1-800-750-2518
Foreclosure 1-866-947-7729