Short Sale With Ohio Savings Bank

Comments(14)

• 
  TheShortSalePro24th February, 2005

  Your initial contact should be the signer of the last letter sent by the mortgagee... that individual will or should know the path up the food chain.

• 
  rbjj21st September, 2005

  They rejected the short sale. There were 4 offers on the house, which all were shorts, and they refused all 4 and foreclosd on the property.
  
  You can try Monica Taylor at Ohio Savings. I only have a fax # for her . 1 216 588-5967. Hope this helps.

• 
  bgrossnickle20th September, 2005

  I have had several new loss mit reps, and I have had several quit and get replaced in the middle of my short sell.
  
  The new ones are no fun. They say many things that they can then not deliever. "Oh wow, your offer really seems to make sense. This should not be a problem. I should be able to get it approved in just a couple of days". And then it goes to committee and they call back with a whole new attitude. I do not try any tricks with them, because the trick are just wasting time. The rep has no authority to approve anyhting. The SS must be approved by committee so even if you trick the newbie rep, you will not trick the committee.

• 
  ryand20th September, 2005

  yeah that is what i was planning on doing.
  
  thanks a lot,
  
  Ryan

• 
  Stockpro9920th September, 2005

  I have had such success sending pizza to loss mit depts that I now consider it a standard part of each SS.
  [addsig]

• 
  bgrossnickle21st September, 2005

  Have you really? Do you send several pies to the entire department?
  
  Brenda

• 
  bgrossnickle23rd September, 2005

  Try a real estate attorney instead of a title company. I use real estate attorneys for any short sells, mortgage wraps, subject tos, etc.
  
  Brenda

• 
  divanme23rd September, 2005

  Can someone please help?

• 
  bgrossnickle23rd September, 2005

  Show the loss mit rep the listing and have a letter from the agent saying that it was on the market for 101 days (how long ago?) and they did not get an offer. Ask of it was an interior BPO, instead of a drive by or pencil BPO. Tell them that the inside is a mess and that you can get them access if they want to do an interior.
  
  Brenda

• 
  divanme23rd September, 2005

  Can someone please help?

• 
  divanme23rd September, 2005

  Thanks Brenda!

• 
  bgrossnickle23rd September, 2005

  If you have the previous appraisal, make that available also.
  
  Is it an FHA and is the owner in the house?

• 
  bgrossnickle23rd September, 2005

  Sorry, FHA and owner occupied is not a problem on a second.
  
  The agent could also state what they believe the house is worth. Realize that if the house if worth say 90k, you have to back out 6% for commission, 3% for closing costs (approximate), are there any back taxes owed, etc. So the net to pay off the second could be
  
  90 selling price
  -5.4 commission
  -2.7 closing costs (approximate)
  - ??? taxes, liens, etc
  -81 payoff first - have you gotten a payoff statement?
  ----------------
  900 for wilshire
  
  make sure your loss mit rep understands that after all the settlement statement deductions there just is not enough money to pay them what they are trying to get.
  
  brenda

• 
  Stockpro9921st September, 2005

  You could check with any title company in your city and they should be able to tell you.
  
  Here it is usually at least 90 days from NOD to sale at auction though it may run 120 days or longer...
  [addsig]