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Franklin Credit is being unreasonable!

Posted by Robyn Soerries-Funk on May 9, 2011 at 7:53am
I have negotiated 2 contracts to the highest and best price and have submitted the short sale to Franklin Credit who is the 2nd mortgage company. The 1st Litton Loan is not discussing a short sale; they say there is enough to pay them completely off and they have already filed a foreclosure. Franklin Credit is now owed with all their fees $23,985. My contract gives them $9,880. That is with a shared commission to Realtors for 4%. They say they will not accept unless the Seller signs a promissory note and pays them back the FULL amount owed. So I guess this deal is over. Franklin Credit will get $0 after it sales at Sheriff's sale. Then I will sale the home only having to pay off the 1st. Let's hope they don't bid it too high! I have to list with the Buyer paying for a new roof. My seller used the roof money to put in new carpet and interior paint. She thought that would make the house sale faster. What was she thinking? I know...NOT!
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