Comments on: Fannie Mae Short Sale Guidelines http://www.geraldromine.com/fannie-mae-short-sale-guidelines/ "The Web's Leading Authority on Real Estate, Kicking Butt in Real Estate, and stuff like that!" Thu, 07 May 2009 15:02:26 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Gerald Romine http://www.geraldromine.com/fannie-mae-short-sale-guidelines/comment-page-1/#comment-148 Gerald Romine Thu, 07 May 2009 15:02:26 +0000 http://geraldromine.com/?p=16#comment-148 Legally you have a right but that would require a lawsuit. If it were me I would call first to talk with supervisors, etc and if that did not work out I would send them a fax stating that if they did not uphold their signed written agreement and close that you would pursue legal action against them which would include damages. Also check to see if the title company has been notified because if not you may be able to close without any problems. The purpose of written agreements is to protect all parties from somebody not doing what was agreed upon. Gerald Legally you have a right but that would require a lawsuit. If it were me I would call first to talk with supervisors, etc and if that did not work out I would send them a fax stating that if they did not uphold their signed written agreement and close that you would pursue legal action against them which would include damages.

Also check to see if the title company has been notified because if not you may be able to close without any problems. The purpose of written agreements is to protect all parties from somebody not doing what was agreed upon.

Gerald

]]> By: Kgreen http://www.geraldromine.com/fannie-mae-short-sale-guidelines/comment-page-1/#comment-147 Kgreen Thu, 07 May 2009 12:38:46 +0000 http://geraldromine.com/?p=16#comment-147 Tomorrow is the closing and the 2nd mortgage is wanting a total of 10,000 instead of the agreed upon figure of 1500.00. The 2nd says that the person that approved this figure of 1500 was not authorized to do so. We have it in writing signed by all parties. What is our right to stay with the scheduled closing of Friday? Tomorrow is the closing and the 2nd mortgage is wanting a total of 10,000 instead of the agreed upon figure of 1500.00. The 2nd says that the person that approved this figure of 1500 was not authorized to do so. We have it in writing signed by all parties. What is our right to stay with the scheduled closing of Friday?

]]> By: Kgreen http://www.geraldromine.com/fannie-mae-short-sale-guidelines/comment-page-1/#comment-146 Kgreen Wed, 06 May 2009 20:40:22 +0000 http://geraldromine.com/?p=16#comment-146 Question about Short Sales. If you have a approval letter that states that 1st, 2nd, 3rd mortgages approve figures to short sale. That is all 3 approve short sale, schedule to close and a week before closing the 2nd comes back and says someone authorized a short sale figure which had no authorization to approve this. (the 2nd). Which ist,2nd, and 3rd are owned by the same company except 1st and 3rd are the Mortgage dept. and the 2nd is the Financial dept of the same parent company So the 2nd is wanting alot more than the approval letter states. What can we do to keep the closing? Question about Short Sales. If you have a approval letter that states that 1st, 2nd, 3rd mortgages approve figures to short sale. That is all 3 approve short sale, schedule to close and a week before closing the 2nd comes back and says someone authorized a short sale figure which had no authorization to approve this. (the 2nd). Which ist,2nd, and 3rd are owned by the same company except 1st and 3rd are the Mortgage dept. and the 2nd is the Financial dept of the same parent company So the 2nd is wanting alot more than the approval letter states. What can we do to keep the closing?

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