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Fifth Third

Discussions Regardin Fifth Third Bank

Members: 8
Latest Activity: Oct 7, 2013

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starting short sale with 5/3 Will they waive deficiency?

Started by marc lederman. Last reply by marc lederman May 12, 2013. 3 Replies

Getting ready to initiate short sale. 1st and 2nd are with 5/3. 1st is for 1,300,000 (portfolio loan) 2nd is for $200,000. I heard 5/3 will not negotiate or forgive deficiency. Anyone have any…Continue

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Comment by Sharon Molnar on April 17, 2012 at 4:30pm

Just got off phone with them. They wanted to discuss a situation with me, prior to sending their findings, over to management for final approval. Current buyers 1s offt was too low. After weeks months of sending emails to kind person of comps, itty bitty higher offers, they finally told us what they needed to net. Submitted the new counter, submit all new paperwork.  They have decided the following: Seller has a 10k  note with them for 5 years, 0% interest. Buiyer is allowed up to 60 days to get financing. Lien holder pulls property off forelosure sale. I think it's a good deal. Let's hope I can sell the seller on it. If so. Time to list the house he's in - not a short sale and he can have less stress in his life.

Comment by Linas K Muliolis on February 29, 2012 at 6:43pm

OK I see its just you and me in this group but I am posting this question everywhere I can! -----

I represent a buyer in a short sale, the first has been negotiated already, but the second (Fifth Third Bank) is putting the brakes on the short sale completely, and demanding that the seller do a mortgage mod instead.  Anyone ever come across this?  Any workarounds?

THANKS!

 

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Discussion Forum

starting short sale with 5/3 Will they waive deficiency?

Started by marc lederman. Last reply by marc lederman May 12, 2013. 3 Replies

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