New Servicer - but in the middle of a Short Sale

NotinPA · 10-21-2009, 08:56 AM

Hello Good People,

I just received a letter that my servicer is changing from National City to Green Tree Servicing.

Before this change, National City hired a third party to handle my ShortSale called Loan Resolution Corp. I have been mainly dealing with LRC since August.

I called and left a VM with my contact at LRC to see if this changes anything, and I so hope it doesn't. The BPO is scheduled for this Saturday.

Anyone else in a similar situation?

Evan Bedard · 10-21-2009, 10:29 AM

Hi NotinPa,

Quote:

I called and left a VM with my contact at LRC to see if this changes anything, and I so hope it doesn't. The BPO is scheduled for this Saturday.

Anyone else in a similar situation?

I hope that nothing will change but from what I have seen when your loan gets sold to a new servicer during the mod process, they generally will make you start the process over..

NotinPA · 10-28-2009, 08:28 AM

Does anyone think contacting the owner of the loan Fannie Mae would help at all??

I am really at a lost here..an drained

Enough Already · 10-28-2009, 03:21 PM

NotinPA,
I completely understand your frustration. I'd say why not give Fannie Mae a call? What can it hurt? It might even help.

Good luck! Let us know how it goes.

Evan Bedard · 10-28-2009, 04:01 PM

I agree with enoughalready what can it hurt?

Stay strong and keep us posted!

NotinPA · 10-30-2009, 11:52 AM

Hi Everyone,

Thanks for posting in the thread.
Well I gave Fannie Mae a call and spoke to a CSR
I explained that the servicers sold off the loan to another servicer in the middle of the sale. He stated that FM does not handle homeowners or interact with them, he said they leave that up to the servicer. I said but ultimately the decision comes from FM to say yay or nay on the short sale decision. Can I speak to someone so that the deal does not fall through just because servicers change...of course there is no one to speak to ...
So I tried...I tried to do the right thing a put it up for sale. It seems like the foreclosure decision has been made for me.

Enough Already · 10-30-2009, 04:52 PM

I'm sorry to hear this. It seems that just about every decision made by the banks make no sense at all.

Hang in there. In a lot of cases foreclosures are taking a long time too. Maybe your short sale approval will come through before the foreclosure.

Do you have a good real estate agent, experienced in short sales working for you on this sale?