1,847,911
I'm afraid you will have to start all over again with the new lender. It's odd that they would have sold your note in the middle of a short sale but they do. Hope this helps or at least explains what is happening.
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Nina Hollander, Broker
Charlotte, NC
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Roy Kelley
Gaithersburg, MD
5,063,430
I think you would have to start all over with the new lender - processes, required documentation, etc. could all be different.
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Nina Hollander, Broker
Charlotte, NC
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Lyn Sims
Schaumburg, IL
1,712,876
3,071,589
3,744,645
Not sure I understand the question. But if you are the seller, I'm guessing you'll have to start all over again.
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Nina Hollander, Broker
Charlotte, NC
4,272,984
You have to get the seller and banks approval to change lenders....
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Nina Hollander, Broker
Charlotte, NC
2,380,487
5,258,996
What Lyn Sims said - they sold your loan and you have to start all over from scratch!
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Lyn Sims
Schaumburg, IL
1,057,674
19,816
Seems they're stratigically blocking your efforts to force them to allow you to shortsale, by selling your loan and forcing you to further kill your credit and torcher you by having to start all over again.
You're trying this very late in the game and these banks know how to make it hurt a lot more than back in 2010 when they had no choice or options.
Theory: I'll bet these loans are sold at a big discount and your current lender takes on the servicing of other lender's loans who are dealing with borrowers also trying to short sale.
Actually, if this theory is true, pretty smart tactic if you're a lender dealing with suchi ssues to stick together and volley the loans to each other.
4,800,132
6,426,255
2,684,769
1,728,867
4,319,873
It is a challenging situation for sure - for everyone. Perhaps start from scratch!
5,583,328
1,507,073
864,708
You are going to have to start the process all over again with the new lender. Sorry...
991,852
It means you are back at square one and have to start again - I feel your pain for sure - Just lost a short sale because the bank dragged it out endlessly and after 1.6 years finally said "No, will not accept a short sale" and foreclosed on the property
Good luck
902,538
3,350,764
It has happened ... and the simple answer is ... you are screwed. You get to start the process all over again with the new lender. It happened to me several times when I was doing short sales. No warning either ... just bham in the middle of the night ... file was transferred.
292,685
It sounds like the servicing rights to your mortgage has shifted . If you did not get a short sale approval letter before the change you now have to wait until the new services sends you notice .
3,988,013
Whenever I see a loan switched to another lender the processing starts all over at the beginning.
5,246,568
5,117,178
1,242,204
7,871,872
I home you are working with a trusted mortgage loan officer who will provide the needed results.