Chase is the servicer - negotiator insists that FreddieMac will not allow the buyer to be a LLC or a Trust.
I am trying to think back on other FM files I've closed but in the meantime,
does this sound familiar to anyone? Do you suppose it's in the guidelines somewhere?
Good Grief - this house is so rough that no retail buyer wants it!
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I've seen that complaint here somewhere for a trust. Maybe even an LLP, however, I had one with an LLC - didn't close - BofA wanted too much - LLC told them to eat their property, went elsewhere. So, I cannot say that they will close, but I had no problem up to that point. I think I have had others. I just needed to come up with the articles of incorporation so the bank could see who the principles are - for arms length, I assume.
Possibly, with a trust, the true owner can be hidden w/o a court order, but that is not true with the INC, LLC, CORP, LLP.
Just think how different it would be if these banks made money by doing short sales instead of losing money. If they put the energy into making these sales happen as they did in putting the world economy into this shape with bad loans..
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