In the previous post, we said that the lender was requiring all their own docs. What we found out was that they only require their own authorization to release information and their own Personal Financial Statement. So what we did, was we got the homeowner on the phone, and did a three way conversation with Midland (the lender). The loss mitigator was awesome! She immediately put in a request to stop the foreclosure (which is scheduled for Feb 11th), and is putting a rush on the deal. Why is she putting a rush on the deal???
COMPLICATION – The foreclosing attorney said they will not postpone the sale until there is a short sale agreement on price. WHAT?!?!? Apparently, the attorney is saying that because they postponed the sale once already, that they won’t do it again until there is an approval letter. Here’s what’s weird about that. The attorney works for the lender, not the other way around. The loss mitigator even called the attorney herself to verify, and that’s what the attorney said to her as well. Weird. So we did two things. We had the loss mitigator put a rush on the file, and we’re fighting with the attorney to get them to postpone the sale.
In our office, we did one important thing.
1. We have the BPO package ready to go, so that when the appraiser calls us, we can get it done ASAP.
I’ll have another update for you soon!
Take care,
Marty Schulting
Top Foreclosure Training
Co-Founder and Coach
{ 1 comment… read it below or add one }
Marty,
Sounds to me like the attorney is getting an attitude because he\’s not making the money that you guys are. Tell him to buy your system and you\’ll teach him.