Monday, October 27, 2008

Lender nor Borrower Be

Okay, I need to vent a little bit. Well as some of you know we have a home in Florida that we have been trying to sell since Millie was 2 1/2 days old. Well with the market the way it is we had two choses - forclose or Short sale. of course we opted for the less damaging option of a short sale. We got a buyer in June and were to close on July 26th. Here is were the trouble started...Our approval for the short sale expired just before the closing was scheduled and even though the lender knew that there was a closing scheduled they closed the short sale file anyway. So we had to send in updated income and living details also military status and orders. Well for three months now our loss midigations guy with our real estate agency and I have been calling daily and weekly (I can only talk to these people so much before I decide to drive to LA and make them listen to me so I only call once a week) to figure out the status of the approval. Well even though NOTHING has changed in the paper work they decided that since we had signed over signing authority to someone in Florida - someone who can only sign the closing papers on our behalf so that papers don't have to be shipped to us (and since Ben is over seas) and we don't have to find a notary and pay another notary (and they make up to $300 for a closing-I am a notary) that they can't approve the short sale. Well the truth is they don't have a copy of the actual paper that states exactly what this guy is allowed to do because it is a private doc. They only have the info that tells them that this guy will be signing all closing documents on our behalf. The lending people have been so tight lipped over this, because every time we would call they would tell us that it was waiting for a signature from management or that it was in review. Well a week ago Friday I called in the morning to find out what was going on and I was told that the negociator was reviewing everything because she was newly assigned to it and she needed to make sure that everything was in line because her name was on it. The rep that I spoke to sent her an email asking her to call me - She didn't. SO I called that afternoon and spoke to someone else and she told me the same thing and said that she was going to send her another email I asked her to send another one too tell her that this needed to be expidited because we have buyers who are about to walk because they have been waiting for such a long time. She said that she sent her another one (but who knows) - once again I never heard back. Now today I called and I was sent to the late stage foreclosure department. I was told that the short sale was denied because of the signing agents papers. they think that he somehow has authority over the selling of our home. Now you can see how all of this can be very frustrating. It wasn't like we weren't trying to help them get this thing done, we've been calling they just REFUSSED to talk to us. All of this could have been dealt with back in August and our house in Florida would no longer be ours but someone elses. I would have about a billion pounds of stress lifted off my shoulders and I think that I would have been able to handle the stress of careing for my MSC (many small children -thanks MckMama) much better had I not had this cloud over us. So now we are once again waiting for them to tell us what we have to do to get this thing back so that we can close on this house and get out from under it. I will be calling them this afternoon to find out if the supervisor has found out anything. They do have to pull it out of forecloser because of or military status and Ben being deployed right now so at least we know that we don't to worry about that. The biggest problem with all of this that Ben's credit has taken a huge hit and the longer we have to wait the worse it will get. So if I may ask all of you who read my blog (and thank you for reading by the way) to pray pray pray. Pray for favor with this Supervisor that she would see the urgency of the situation. And for speed of finalization of the approval so we can close quickly. Thank you all for taking the time to join your faith with ours (and by the way my faith has been very weak lately because of a lot of junk happening) Jenn