citi: Being Held Hostage By 2nd with 5th/3rd
- 03/10/10 03:06 AM
Wow! It is amazing to me that some of the deals you think will go quick and easy(FHA short sales) turn in to a huge ordeal when you have an uncooperative 2nd lender, or mitigator. We have a deal we got approved on the first with Citi that is FHA which are easy deals to get done, but the caveat is Fifth Third wont do a full settlement on the 2nd for the $2,500 allowed under FHA guidelines. Not always a big problem but the seller wants it settled and not looming in the darkness to creep up at some unknown … (4 comments)
citi: Being Held Hostage By 2nd with 5th/3rd
- 03/10/10 03:04 AM
Wow! It is amazing to me that some of the deals you think will go quick and easy(FHA short sales) turn in to a huge ordeal when you have an uncooperative 2nd lender, or mitigator. We have a deal we got approved on the first with Citi that is FHA which are easy deals to get done, but the caveat is Fifth Third wont do a full settlement on the 2nd for the $2,500 allowed under FHA guidelines. Not always a big problem but the seller wants it settled and not looming in the darkness to creep up at some unknown … (1 comments)
citi: To be or not to be (Current) that is the question?
- 07/19/09 08:38 AM
We have two deals that Citi has countered our offers on and we thought would be approved within days. They all of the sudden we get the dreaded email. We can't approve the short sale because the clients are current. Mind you I told the clients that if they wanted to keep their credit intact keep up the payments. One of them had been out if the home with a job transfer for almost a year. Crazy I know but some people still care about their credit. So the mitigator told us that we can get it approved when they are 30 days late. … (4 comments)
Wow! It is amazing to me that some of the deals you think will go quick and easy(FHA short sales) turn in to a huge ordeal when you have an uncooperative 2nd lender, or mitigator. We have a deal we got approved on the first with Citi that is FHA which are easy deals to get done, but the caveat is Fifth Third wont do a full settlement on the 2nd for the $2,500 allowed under FHA guidelines. Not always a big problem but the seller wants it settled and not looming in the darkness to creep up at some unknown … (4 comments)
;)
;)
