Look After Your Short Auction Folders Or Foreclosure Will Happen
Kevin and Fred are hanging out at Taco Surf in Pacific Beach, California. Fred in fact held his wedding reception at Taco Surf. If you are ever in the San Diego neighborhood, you should check out Taco Surf. The reason Fred is having such a postponed lunch today is because he has exhausted quite a lot of hours this morning babysitting foreclosure sale dates.
The first folder, serviced by Metlife for Freddiemac, has been a nuisance during the complete process. The first time we tried to close this file, MetLife sought to foreclose. So, we went to Freddiemac and they cheerfully delayed the auction date. However, the buyer on that deal fell through following inspections. Currently we have a new purchaser and we submitted that contract at the conclusion of June. We have been dealing with Metlife to get them each and every one of the papers that they needed until last week. Last week they notified us that they could not put off the foreclosure sale date because it was too late. So, this morning, Fred had to call Freddiemac yet again to get the foreclosure auction date postponed. Freddiemac, once again, willingly deferred the auction date and sent Metlife an email asking them to postpone the auction date for an extra 60 days because the bid on this home is more than the BPO. It surely makes you conjecture what Metlife is doing in the short sale business.
The second folder, working with Chase, has been very frustrating. Fred was told last week that the auction date has been deferred and everything is good. Fred has chatted to a few of people that have been very helpful and polite, but the trustee has already told Fred that the house is going to foreclosure sale tomorrow. Fred called the trustee for the second time today and he confirmed that it is definitely going to auction.
Finally, the Chase worker called Fred back and confirmed that the auction had not been delayed. Actually, Chase postponed the auction internally, but Chase forgot to get authorization from the investor. So, Chase had to go to the financier and request that they sale date be postponed.
We are not picking on any servicers or investors, but we would like other realtors to recognize that you must confirm foreclosure auction dates with the trustee. Trust no one inside the banks and corroborate everything.
Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona