Posted by charles on June 09, 2008 at 18:40:48:
I can understand your comments about the buyer but the servicer has revealed this information to the people negotiating on the deal (third party). This person has not real reason to lie. The servicer has made promises to call the owner but has failed to due so. The lawyer stated the the foreclosure can be recinded if the investor agrees to it but the owner is not getting any support from the servicer.
charles
Short Sale Approval/ Lender Error - Posted by Charles
Posted by Charles on June 07, 2008 at 09:45:23:
We were doing a short that has 2 mortgages. Primary mortage agreed to short sale and sent the letter to the person handling short sale. Mid of May. First sale of May 6 was postponed till June 3. Need more time for 2nd to get finalized
Negotiator called on May 28 to lender and asked for extension. On May 30 someone from the company called her back and stated that there was an extension. Verified 2 times by negotiator
Fast Forward to Thursday: Realtor received call from other realtor that they were taking over property. negotiator called lender and asked what happened.
In the lenders system they forgot to ask investor to hold off/ postpone sale date? In turn attorney went to sale?
This property is in GA:
Is there legal recourse to the lender failing to ask investor (Freddie Mac) to postpone sale but called negotiator and told her there was no sale date?
PS: per conversation of negotiator and lender revealed customer service rep stating the the attorney’s office had on file date of June 24th
I am thinking that this one might get removed from Owner credit file? Can this also be taken back from foreclosure? What can be the legal recourse for Owner
Charles
Re: Short Sale Approval/ Lender Error - Posted by River City
Posted by River City on June 09, 2008 at 11:26:53:
So…you didn’t make your payments the way you agreed to do (in writing), so NOW you want to know if YOU have legal recourse against your lender due to the short sale not taking place in the time frame set up?
Hmmmmm, very interesting concept…
It is so difficult to side with someone that has a home in a foreclosure status and hear they are wanting to sue their lender because there was obviously a breakdown in communication. Excuses can be made by everyone involved (just like excuses on not making payments), however, most servicers are not going to say they forgot to notify Freddie Mac about changes to the contract.
As far as it being removed from the owner’s credit file, WHO was late on their payments?
This thorn doth not smell like a rose.