Short Sales/banks
Is there a possibility to make a way we can all submit our "stories" about certain banks and then browse through them by bank or something so when we come upon a bank we haven't dealt with yet we know what we're up against. Also so we know what banks are easy to deal with, so when going through the 4 foreclosures a day I see I know which ones to go after.
Thanks,
Chase
Story:
Ocwen -- unreasonable to deal with.
House was 4 months behind, prior bankruptcy - owner moved out and was living with family.
Needed approx. 11K in work.
ARV of 96K max.
Mortgage of 85K (4 months in arrears).
Their "valuation department", based upon the BPO and other info felt that the property as-is was worth 93K and wouldn't take a penny less.
Not sure if Ocwen owned the loan or if they were servicing it, but still...
House goes to auction next week (12/8) for 86K.
They will get stuck with it.
sigh....
This reminds me of Ameriquest. I was contacted by a rep in their loss mit dept. and their whole philosophy is to take the property back and deal with it the whole way through REO.
They clearly do not understand time value of money, or their board doesn't.
Best, Dave
Litton Loan Servicing
800-548-8665 (loss mit.)
SSPro - "Personally, I have found them to be professional, and willing to entertain sound business proposals."
msumsky - " I just finished a short sale with Litton. They were very difficult to deal with. I'm just glad I'm done with them. MIke"
Homecomings Financial -
Awesome company to deal with, easy.
Payoff - $42k
SS offer - $20k
SS counter - $25k
SS agreed - $22.5k
FMV - only about $30k but may rehab.
Bump
Just looking for more SS stories with different banks.. to see how well they are to work with. Going to start doing 2-6 short sales per month so hoping to get a clue on which banks are best to deal with, and even more importantly, which are the worst with negotiating.
Thanks
Chase
Has anyone else had any SS experience with Ameriquest?? I have an owner who is eager and am just getting in to the process - but his mortgage holder is Ameriquest and according to a previous post (davehays), it may be a fruitless mission.
Does anyone have an Ameriquest success story? Any helpful hints on how to best work with them?
Thanks!