We submitted a Short Sale Package through Equator on a Nationstar (sold to them by B of A) loan. Never received confirmation that Equator received our package. Nationstar states they will not initiate the short sale transaction as the Trustee Sale date is three weeks away. They claim they will not initiate a Short Sale if the Trustee Sale date is within 30 days of submission of a Short Sale Package. HELP!!! If anyone has any advise or contact information, I would greatly appreciate your assistance.
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Karen,
We actually received a new file yesterday evening with Nationstar with a FCL sale date set for 9/15/2013. We received a phone call early morning stating that due to the sale date within 15 days that the property would go to Foreclosure if the mortgage was not reinstated. We were able to reach a representative and email them the complete short sale package who then said they would take the offer and package to the investor to consider if the FCL sale date was worth postponing in order to allow a short sale review.
Who is the Investor?
This has nothing to do with the CA Homeowner Bill of Rights. It's the National Mortgage Settlement.
Is the Borrower HAMP/HAFA eligible? You may want to go down that road.
Why would the NMS have nothing to do with this transaction?
We don't know at this point in time if Nationstar serviced the file in accordance with the NMS prior to scheduling a sale date.
I would almost bet they did not.
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