Short Sale Stories

November 18, 2010 at 12:30 am Leave a comment

by: Maria Hass

Every short sale is custom. I had a short sale listing where the first negotiator gave a clean approval on the transaction and the buyer backed out. Second negotiator on the second buyer would not pay some title fees. According to the new negotiator, the investor would not allow it. Is she talking about the same investor of the first buyer? Oh well….
Also, Wells Fargo and Bank of America is defying logic by having to start the whole process again with the second buyer instead of just switching the names of the buyers once an approval was already made.

PNC financials who took over National City Mortgage asked $19,000 on a $32,000 loan to release the lien and deficiency. This is an excessive amount. The home is protected under the Arizona Anti-Deficiency Law. PNC will not get anything if the home goes into foreclosure. Wonder why these greedy banks won’t take less.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate. Tags: , .

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