For those of you who
have spent some time with us you know we have dealt with Greentree many, many times now. I have to
say, knock on wood, Greentree is becoming one of my favorites to
work with on a West Sacramento Short Sale. Them
and Ocwen – I really like Ocwen of late.
This recent success
story involved a Greentree first and a Bank of America second. That was a little
odd because usually on a West Sacramento Short Sale it is just the
opposite. It was a purchase money first and second, both
originally Countrywide Loans.
We submitted our
usual West Sacramento Short Sale Package and
received the approval from Greentree within 30 days – great news right.
Well not exactly.
As it turned out Greentree denied the seller credit for the
buyers closing costs causing us to decline the approval letter. Always kills me
to decline an approval, but let’s face it, the deal was not right so we had to
practice our due diligence and go back to the well a second time. We were able
to re-work the deal and got Greentree to agree to the seller credit for
closing costs.
In the meantime
our Bank of America negotiator closed out our
file because we could not give them a response regarding the approval from the
first within 2 weeks. Now think about that for a minute. Bank of America takes anywhere from 30 to 60
plus days to issue an approval but wanted a response from Greentree in 14? Be serious.
With the approval from Greentree well in hand we re-opened
the Bank of America file. True to form Bank of America took their sweet time
getting us the approval for the second but all’s well that ends well. We have a
super excited buyer moving into their first home and a super excited seller
walking away from $300,000 in debt with zero liability. Does it get much better
than that?!
Is a West Sacramento Short Sale Right for Me?
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