Litton Loans

Foreclosures, Short Sales, Tax Foreclosures
1

Any one have any experience doing a short sale with Litton loans?
If so, what was your experience?

Thanks

2

I’m currently working on one right now. The homeowner has their 1st and 2nd with Litton.

3

Litton had a 2nd on a short sale I did a few weeks ago. The 2nd was for 27k and I negotiated it down to 5k. I close on the 13th (Thursday). They were pretty easy to work with.

JOhn

4

Thanks, the home owner also has the 1rst and 2nd with them.

Were the requirements pretty standard for the short sale packet?

Thanks again

5

All I did was fax them my Authorization Of Release on a Sunday Night. I waited until MOnday after noon and gave them a call and we talked a little (about 30 minutes). I told him about the lady’s situation and he told me to fax him an offer. I faxed him an offer of $2300 originally, I waited about 30 minutes and called him back. He said he couldn’t accept that, so I faxed him another offer of 5k, waited another 30 minutes and called him back. He accepted that offer and sent me an acceptance letter. I had less than an hour (of talk time) invested in this guy. I close Thursday (13th) on a 160-170k property that I’m purchasing for a total of $99,7000. The home needs updated and that will cost me about 15k.

To answer your question they never sent me a packet, we did it all by phone and fax.

Good luck

6

That’s good to hear,

I am still on hold but have my fingers crossed.

Thanks :slight_smile: