I have been working on a short sale in Palmdale for a very nice couple who suffered some major health issues in the past few months and are no longer able to afford their home. Up until today I have been very happy with the mortgage servicer as they have been prompt on returning calls, had an appraiser sent to the property within 3 days of my listing, and would frequently call me to see how things were going with the sale.
Earlier this week I got an offer on the property. When I spoke to the servicer to tell them I had received an offer but was still negotiating price with the buyer they told me that they were missing a few things from the seller. I called the servicer back today to ask if they could send the missing needed paperwork directly to me so that I could have the sellers complete it and return it with my package with the offer we received.
When servicer answered they told me that the loan had been sold off, and by the end of the month I would know who the new mortgagor would be. They told me to hold on to the offer and submit it to the new owner of the note. This is the first time I have had this happen in the middle of a short sale - has anyone else experienced this? If you have had this happen before has it been better or worse for getting a short sale accepted.
My hope is that since the loan was probably sold off as a package deal and a huge discount was probably given that they may be more willing to negotiate a better deal. Any thoughts, comments or suggestions??