WAMU Short Sale Reaches All Time Low
Today, Washington Mutual reached an all time low in the short sale I've been working for the past six months. Wamu now require that all second mortgages provide lien release BEFORE they will even consider the short sale.
So despite the fact that I call every day and have been for the past month, today was the first time I found out a negotiator was assigned on May 20th; the short sale was denied on May 22nd because the second mortgage hasn't released the lien; and that the second lien release must be received prior to WAMU's negotiator reviewing the file.
Did I mention the second will NOT provide a lien release until Wamu tells them what they will take and what they will give the second.
The home is scheduled to go to auction on Thursday, June 18th, we have THREE GOOD OFFERS and WAMU will not pull back the auction date until the second releases the the lien.
Oh, and the final piece is that since the file was denied, they will not reactivate the denied file. Once I receive the second's lien release, I have to resubmit the entire file and hope that a negotiator will be reassigned in time to pull the home back from auction in enough time.
Thank you for listening.
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