Help Please
I had a contract on a house that I was trying to assign, If I was unable to assign it I was going to purchase the house because it is valued at 257K and I was picking it up for 200K with about 7K in repairs. The 200K included about 30K cash to the owners which are behind at least 4 months on their 2 mortgages. My question is, does anybody know of a person at Washington Mutual and Amsouth that I can talk to about doing a short sale? or even just buying for what is owed as that would be a good deal as well. I also need to know if these people (banks) would be willing to tell me when the proceedings would be taking place or when I could buy the property before they start prceedings.
Thank You for any help on this.
Dave
When you phone the Bank have them put you thru with a supervisor of the Loss Midigation Department, explain to them that you have a written authorization for them to release any and all information pertaining to this property/homeowner, fax the letter to them (with account numbers, name and Soc.
Then explain to them the situation and the fact of the home needing to be short saled, and repairs needing to be made. Have them (bank) send you a short sale packet, have the client fill out the necessary paper work, send that in with the hardship letter, verification of income etc., they'll order the appraisal and neg. can begin from there.
Hope this helps some, and I hope that I somewhat answered your question.
Toni
Sounds good Tony, I will do that. and Thank you
1 question, who is the client?