Venice Area Homes Blog

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Flagstar finding any reason not to approve HAFA Short Sale

I am finding that I am at the end of the rope with one of my Englewood FL Short Sales.

I have heard of lenders before creating excuses not to move short sale files along for HAFA Short Sale but have not had to deal with that until now. I have a Englewood FL Short Sale and my sellers have one lender and meet all the qualifications for HAFA Short Sale. My sellers lender, Flagstar. They have been one of the most frustrating banks to work with and makes me appreciate Bank of America everytime I have to call and speak to them. It takes minimum of 1 hours to get through to someone and then when I am fortuante enough to get someone to answer I get hung up on (disconnected).

From what information I have found out about this lender it takes on average of 6 months to get file moved along, if you are lucky. I am about 3 months into Short Sale process and only thing left to do for lender should be to issue by sellers a Short Sale Settlement approval. Should be! Instead lender contacts my sellers and tells them that the file has been removed from specialist desk because they did title search and seller's previous lender satisfaction was not filed with county. I contacted my title company and they did title search and found that previous lender filed their satisfaction in wrong county. Still lender is not accepting this.

I, by any means, do not have the same experience as other Short Sale Agents that do hundreds of short sales but I have done quite a few and I believe this is the job of the title company to cure title defects so clear title can be passed onto buyer. I really believe this is an attempt by the Flagstar to find any reason not to approve HAFA Short Sale. I am still working on this as I don't give up on my sellers. I will give update as to progress but if anyone has any information that can help me with Flagstar it would be greatly appreciated if you could share it with me.

Venice FL Realtor Kari Battaglia Selling Homes in Venice

Helping buyers and sellers since 2004.  A Venice/Englewood Florida resident for almost 40 years, put my local real estate knowledge to work for you today.  My coverage areas include Southwest Florida include Venice, South Venice, North Venice, Nokomis, Osprey, Casey Key, Manasota Key, Englewood, Rotonda West, South Gulf Cove, Grove City, Placida, Cape Haze, Port Charlotte & North Port which are located in Sarasota and Charlotte Counties

 

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KARI BATTAGLIA, PA
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Comment balloon 4 commentsKari Battaglia, PA • June 10 2011 10:01PM
Flagstar finding any reason not to approve HAFA Short Sale
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