Pay $4500 To Start The SS Negotiations?
I tried to bail out an owner who was $4500 behind and Countrywide said that they were willing to talk about a short sale but before they would negotiate they said that I had to bring the back payments current. Yea right. How the hell can you negotiate when they already have your money?
You could start the negotiations by making them an offer with some money as an earnest deposit. But whatever you do, put the money into an escrow account and make sure it comes back to you if your offer isn't accepted by a set date/time.
Make sure the agreement is worded in such a way that you don't need their sign off to get the money back.
Carefull how you tread here so as not to lose your $$$$> I agree with the previous caller
I recently has CW ask for 2 mortgage payments to stall an auction, and the $$ was credited back to buyer (me) at close.
Sounds like you were speaking with a collections clerk... whose only job on the face of the earth it is to collect $$$ and cure a delinquency.
The collection clerks earn bonuses for amounts collected.... and the collection clerks have no interest beyond collecting.
Demanding $4500? Don't do it! If they think that there is water left in the well.... it will exact an adverse impact upon the alleged hardship and they'll keep coming back for more.
You want the loan determined to be uncollectable and moved from collections department to the loss mitigation department.