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  Emily S. Knell February 17, 2010 at 7:12am

  Mine, BofA is the 1st, Green Tree 2nd, I've got them to go to $5,000 for GT, but am "strongly asking" them to pay $16,703. I firmly believe my SS math is correct and am fighting tooth & nail for the win! I know it will net them more $$ then if they take it to auction or back as REO, I know where FMV is and they do too.
  
  I'm fighting for this not for my low commission but to help all of us in this fight!
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  Donita Dickinson February 17, 2010 at 7:04am

  Emily, you said you demanded they pay the $16k to the junior lien holder but you didn't say if they agreed. We've done several short sales with BofA and several have had a lien holder in 3rd position and they have never agreed to pay anything to a 3rd. If you are getting it done, I'd love to know how. The best they have offered recently is $3k. It's been my experience with BofA that when you start demanding anything, they close the file and you get the pleasure of starting all over.
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  Edna Bejarano February 17, 2010 at 6:44am

  Thanks for the input, the second TD which is really small, accepted to be paid in settlement, so this way we can have the funds directly given to Wells Fargo from B of A in order to get the approval. I hope to get this done this week !!
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  Emily S. Knell February 17, 2010 at 4:44am

  First, the banks don't get nada in a junior position. They do have default insurances and depending on who the bank is they may have a Shared Loss Agreement with the FDIC, like Indymac.
  
  I hope you didn't offer $10k to them up front, they should have only been offered $1500 from the start. Go back to BofA with a new HUD, offering something to Wells and show BofA with your current FMV comps and your knowledge of what it would cost them to take the home to auction or back as an REO.
  
  I just recently did this with BofA, where I went from asking them for $3k to pay off a junior lienholder to basically demanding they pay $16,703 & still showing them that even at that number, I know my Math is correct and that it is still in their best interest to pay that vs. taking it back.
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  Donita Dickinson February 16, 2010 at 6:41pm

  I agree with Dominique, start asking for supervisors. You'll get it done. Make sure they know they are in 3rd position. I've never seen a 1st pay a third. They are very lucky to be getting $10k. If it goes to foreclosure they get nada. FYI... Wells does not pay 3rd lien holders, only $3k to the second.
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  Edna Bejarano February 5, 2010 at 9:37am

  Do you have any numbers were I can escalate?
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  Dominique Van Ryckeghem February 5, 2010 at 7:58am

  If the numbers are sound then escalate up the WF food chain (go as high as you can).