I listed my client home with (Bank of America) as a FHA short sale. The owner who has defaulted on her mortgage payments and has failed two loan modification guidelines. We have a short sale and a accepted offer from the owner. I submitted all the requested information, documents with the short sale package. Now the owner got a call from a customer service manger that stated that we must re-list the property in the amount of the payoff which is over  $100,000 of the market price. How can we be asked to list the property at the payoff amount with the home that's upside down and would surely sit un sold and forced into foreclosure. Vacant homes for a long period of time can become molded inside, possible thieves stealing the heat pump, kitchen appliance, toilets etc, especially in our area within the last few years due the high number of vacant short sale and foreclosures homes. I don't claim to be the know it all in short sale but this request just don't make sense to me in this real estate industry. Do anybody have any comments about this situation. Thanks

Views: 30

Discussion Forum

Sellers Concerned About Extent of Credit Damage

Started by Ricky O. Gibson, Sr. Last reply by Aileen Potter Jul 30, 2013. 8 Replies

FHA Short Sale List at the Payoff Amount! Huh?

Started by Terrence D. Langford Mar 25, 2013. 0 Replies

BOA and POF's

Started by Smitty. Last reply by Aletha C. Hicks Jan 26, 2013. 6 Replies

Chase HAFA ?'s

Started by Dawn Rupersburg. Last reply by Aletha C. Hicks Jan 26, 2013. 1 Reply

© 2020   Created by Mike Linkenauger.   Powered by

Badges  |  Report an Issue  |  Terms of Service