I am in the middle of a short sale with a home owner and Washington Mutual.
She got a letter that said they have sold the loan and the new lender starts Nov. 1st.
Can I still do the short sale? Do I have to start over?
Any Advise would be great.
:help:
I am a little shocked that this has not happened to anyone who has viewed this post.
I guess I’ll wait and see what happens.
Hi Ramona,
This is new to me, but I am aware that this sort of thing happens. I was at a seminar and one of the speakers was an attorney who does nothing more than negotiate short sales. He commented that on one deal that they had done this exact same thing happened, and he had to go to back to square one with the new lender!
Sorry for the not-so-good news.
sixdirections
That is what I thought. Thank you for the reply and I will let the group know how it turns out. Just so we have a reference.
The new lender won’t talk to me until Nov 1st so I have a few days to worry about it. lol
Much luck!
sixdirections
Hello Ramona,
This has happened to me recently and UNFORTUNATELY if you haven’t closed the deal with the original lender then you will have to start from square one with the new lender. >:( I had to start all over. So now I ask a lender “Are you still servicing this loan” or “Is this loan in the process of being sold or assigned” But as you already know Ramona in the end it all pays off…just more legwork, I look at it as gaining more valuable experience.
Mel
“Are you still servicing this loan” or “Is this loan in the process of being sold or assigned”
Oh my gosh what a great question. Thanks for the advice.
Thanks to sixdirections as well.
