Does anyone have any contacts at Litton to escalate a file? The BPO agent was forced to value the property at fair market value and ignore the extensive repairs. The home needs more than $30,000 in repairs but Litton doesn't want to consider them. It has been on the market for a month and I haven't gotten any interest or showings from other realtors. I've received one offer from an investor, and his offer is based on fair market value minus the repairs needed.Litton also told me that if the buyer doesn't agree with their value then he can pay for a certified appraisal,but the buyer is not willing to pay for an appraisal with no guarantee that Litton will approve the contract. The mortgage is almost 3 months behind, and the sellers should be receiving a foreclosure notice any day now. I'm afraid if it forecloses then Litton will net less. Please give any contact numbers,names, or any other helpful advice.

Views: 13


You need to be a member of Short Sale Specialist Network to add comments!

Join Short Sale Specialist Network

Comment by Joseph C. Alfe on May 18, 2010 at 11:00pm
Then have the buyer or seller get an appraisal
Comment by Gilbert Washington on May 18, 2010 at 9:17pm
Yes Joseph I did influence the BPO. When Litton told me what the BPO came in at I thought they were kidding,so I called the bpo agent, and she told me that the QC department at Proteck, denied her values and sent the bpo back to her 3 times thus forcing her to value the home at fair market,as if the home didn't need any repairs. She claimed that she made the repair adjustments in the bpo, and they still wouldn't accept it.
Comment by Joseph C. Alfe on May 18, 2010 at 6:34pm
Litton is one of the easiest to work with. Did you properly influence the bpo with recent sold comps and repair estimates that justifies your offer? I'm thinking not. Since Litton already has an offer in mind, then the buyer or seller need to pay the little bit of money to get a third party appraisal. This is the cost of doing business. Most appraisers will give you an idea of what it will come in at before you pay them.
Comment by Mike Linkenauger on May 18, 2010 at 3:26pm
Just emailed you the contacts that I have...


Ocwen Contacts Short Sale Package

Started by Jan Baron in Rants and Raves. Last reply by Anna Wilk Jan 14, 2016. 5 Replies

Shellpoint Mortgage

Started by Celeste ODea in General Discussion. Last reply by Brett Goldsmith Sep 4, 2015. 3 Replies

Extension Fees & Closing

Started by Colleen J Couse in Rants and Raves. Last reply by Brett Goldsmith Sep 3, 2015. 1 Reply

© 2019   Created by Mike Linkenauger.   Powered by

Badges  |  Report an Issue  |  Terms of Service