Short Sale- Lender Is Not Responding!
A realtor friend of mine is trying to do a short sale with New Century, and has gotten no cooperation. Has anyone had experience with New century on short sales. If so, can you please pass along info on who to contact. What can be done, if anything to get their attention and make the lender responsive to the short sale overture.
My understanding is that there is a first mortgage of $50,000 which they are attempting to reduce to $40,000 and there is also a second mortgage of $8,000 with a different lender.[ Edited by mortgageman on Date 09/17/2003 ]
the attempt should have made to first and second lien holders....
Is the letter strong enough?
was -time is of the essence punctuated enough? or even stated somehow / someway
give deadlines to let them know you are serious.... if not they are wasting your time..... if they come back after that reduce your offer...