Take Care Of Your Short Sale Folders Or Foreclosure Will Happen
Kevin and Fred are hanging out at Taco Surf in Pacific Beach, California. Fred actually held his wedding reception at Taco Surf. If you are ever in the San Diego locale, you ought to check out Taco Surf. The reason Fred is having such a delayed lunch today is because he has spent quite a lot of hours this morning babysitting foreclosure auction dates.
The first folder, serviced by Metlife for Freddiemac, has been a pain during the whole process. The first time we attempted to close this file, MetLife sought to foreclose. So, we went to Freddiemac and they willingly deferred the sale date. Nevertheless, the purchaser on that deal fell through after inspections. At the present we have a new purchaser and we submitted that deal at the end of June. We have been dealing with Metlife to get them all of the papers that they needed until last week. Last week they notified us that they could not delay the foreclosure auction date because it was too late. So, this morning, Fred had to call Freddiemac yet again to get the foreclosure auction date deferred. Freddiemac, once again, cheerfully deferred the auction date and sent Metlife an email asking them to postpone the sale date for an additional 60 days because the bid on this house is more than the BPO. It definitely makes you conjecture what Metlife is doing in the short auction business.
The second folder, dealing with Chase, has been very wearisome. Fred was told last week that the auction date has been deferred and everything is good. Fred has talked to a few of people that have been very obliging and nice, but the trustee has already told Fred that the house is going to foreclosure auction tomorrow. Fred called the trustee for the second time today and he confirmed that it is positively going to sale.
At last, the Chase employee called Fred back and confirmed that the auction had not been deferred. It seems that, Chase deferred the auction internally, but Chase forgot to get go-ahead from the investor. So, Chase had to go to the backer and ask for that they sale date be delayed.
We aren’t picking on any servicers or investors, but we need other realtors to recognize that you must confirm foreclosure sale dates with the trustee. Trust no one in the banks and confirm everything.
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