New Servicer - but in the middle of a Short Sale - Loan Modification Forum

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?

10-21-2009, 08:56 AM	#1 (permalink)
NotinPA Senior Member Join Date: May 2009 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	New Servicer - but in the middle of a Short Sale 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?

10-28-2009, 08:28 AM	#3 (permalink)
NotinPA Senior Member Join Date: May 2009 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Servicer - but in the middle of a Short Sale Does anyone think contacting the owner of the loan Fannie Mae would help at all?? I am really at a lost here..an drained

10-28-2009, 03:21 PM	#4 (permalink)
Enough Already Senior Member Join Date: Jan 2009 Posts: 438 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Servicer - but in the middle of a Short Sale 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.

10-28-2009, 04:01 PM	#5 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Servicer - but in the middle of a Short Sale I agree with enoughalready what can it hurt? Stay strong and keep us posted! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

10-30-2009, 11:52 AM	#6 (permalink)
NotinPA Senior Member Join Date: May 2009 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Servicer - but in the middle of a Short Sale 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.

10-30-2009, 04:52 PM	#7 (permalink)
Enough Already Senior Member Join Date: Jan 2009 Posts: 438 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New Servicer - but in the middle of a Short Sale 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?

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