SS With WF And Integra
Have a SS with Wells Fargo (bal 232K) and Integra (bal 40K). I sent the SS to WF with an offer of 122K; they just countered at 200K (maybe the appraisal value). We have a FHA buyer for 222K.
So if WF agrees to 180-185K and Integra agrees to 3-5K we may be in a good position for A-B-C closing. Since FHA has lifted the seasoning requirement
Would you know of any weird WF rules that may be a problem?
The First lender (WF) mentioned they will allow second lender (Integra) to get 10% or $3000. Integra came back asking for $20K! They will not take $3000. Any words of wisdom?
Smaller, Second position lenders will dig in their heels at any offer. They require special attention and motivation. Hopefully they operate out of small branch offices like City does here in Reno. They wanted $7,500 but The First said they would only allow $1,000! Dead deal for most people, right? I made it work.