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Originally Posted by vkswede  Thanks faith, since I do not know much about promissory notes, I was wondering how do the promissory note look a like, does it say promissory note on it, just try to be prepared, you know, we are dealing with professional thieves. thanks again |
The Negotiator will only give your agent the promissory note for you to sign if you agree by phone or through your agent that you are going to sign the promissory note. The success of negotiating the Short Sale is thru cooperation with you and your agent and the negotiator. Be firm, persistent, patient and strong because this is a very frustrating and a draining process. I will not wish my worst enemy to deal with
CW.
CW Negotiator does not approve the actual Short Sale, he calls the negotiator of the investor, my investor is Fannie Mae I have both loans with
CW, but the PMI was not releasing the 2nd mortgage they want me to sign a promissory note that I will pay the balance of the 2nd which was about $89k. I asked them why did I have a PMI when I have purchase money mortgage and put downpayment on my loan and I was not informed that there's PMI. Well
CW to be safe insured their 2nd with Republic Indemnity and now this insurance wants the whole balance paid. I told them no, I rather file a bankruptcy which I was qualified to do. That's the reason why it took so long because they kept insisting me to sign the promissory note and I said no.
Finally, the investor told
CW negotiator to accept the offer.
Thank God. I will deal with my next chapter with
CW later, not now I don't have energy left because I've been sick due to lack of sleep thanks to my neighbor upstairs who 24/7 non stop dropping heavy objects which gives me a headache, heavy footsteps, loud noises and music. The Manager told me today that have already sent them a letter of eviction so they warned to prepare for the worst. I say if God is for me who can be against me.
Hope this helps.