I'm seeking feedback and help for the following:
1. Is anyone currently working with or has closed a Short Sale with Midland Mortgage (a division of Midfirst Bank)? I'd like to know the good, the bad, and the ugly ...
2. Has anyone a direct phone # or email address to their Loss Mitigation/Short Sale Department? I already have their Deliquency Assistance Center's phone #s and email.
Thank you in advance!
I'm working with one now. You can get a lot of their stuff from mymidlandmortgage.com. Tell your seller to go online, create an account, and add you as an authorized party. That's the quickest way to get access. They won't accept a non-midland Authorization. phone 18005523000, authorization fax 405-858-3000, short sale package fax 405-767-5815
Thank you so much for your reply, Tracie! The thing is, I already have the authorization in place plus the phone and fax numbers you listed... I even have the email address to their deliquency assistance center (email@example.com) of which a rep said I can email instead of faxing the SS docs/packet. Unfortunately, their website is down ... but I will try it again tomorrow.
Is your short sale file with Midland's "loss mitigation/short sale department" already... or is their DAC still reviewing it?
where did you get their short sale package? Do they have a process like Bank of America. B of A told me what to list the property at, they had an appraiser go out. I am having trouble getting to a human, getting information on how they want me to proceed. Finding the short sale packet etc. Can anyone help?
Hi Donna your seller need to authorize you on the account online or you can fax the 3rd party authorization to (405) 858-3000 then your short sale package to (405) 767-5815. Midland will send their short sale packet to your seller that need to fill up. They will also call your seller and inform them who will be their contact person with its phone number.
My last experience was over a yr ago - DISASTER!!!! Nobody had a clue. Hope they have a better handle on it now,
Hi Sylvia. I did a short sale with Midland about a year ago. Mine was a decent experience. It was a very low price home at $45,000....what amazed me & everyone involved was they approved seller concessions of $5000!
I found Midland pretty good to work with. My client had a 1st (Midland) owed 160,000. had a 2nd (Comerica) of 50,000. Had an offer of 45,000. (Times are hard in Metro Detroit!) Midland wanted to take the deal but would only allow 3,000 to the 2nd. (Seems reasonable, right?) The 2nd (Comerica) would not accept anything less than 35,000. (SERIOSULY?!?!) Mr. and Mrs. Seller had filed bankruptcy, so there was no obligation due from them.
Seems crazy, doesn't it?
I did ask the Comerica Rep why would they rather get 0 dollars than 3,000 dollars?
His reply? 0.00 is the same as 3,000 to us. Whoo! I was shocked, as was the Midland Mortgage folks.
Mr. Seller is currently riding out his redemption period.
I have a short sale with Wells Fargo as 1st Lien and Comerica as second lien holder. I searched and searched but couldn't find any contact info. for Comerica on the web. How did you got hold of them? Is there a site where I can download the short sale package? or a phone number?
Thanks for your help in advance.
I've just closed on a Midland Mortgage short sale. They were pretty good. My seller's loan servicing was transferred to Midland a week after receiving short sale approval from Citimortgage. It took about two weeks for the loan information to be uploaded into their system and another 3 weeks to close after that. My Negotiator was accessible (which is ALWAYS a plus) and pretty easy to work with.