After several unsuccessful attempts at modifying her loan to save her home, this Southington homeowner had run out of options and was facing foreclosure. Her only remaining option was to pursue a short sale.
REID REAL ESTATE GROUP APPROACH:
Nationstar is not one of my favorite lenders to work with, as they are consistently disorganized, unresponsive and confused. Although FHA backed loans are generally very predictable, Nationstar has a way of turning what could be a quick and easy process into a lengthy frustrating one.
It took just a few weeks to secure a buyer for the home and we were able to get started on the short sale. Unfortunately we experienced some freeze damage to the property just a few weeks later and lost our buyer. It took an additional 6 weeks to secure a new buyer, but by this time our short sale was moving along. Sadly, Nationstar acted in usual fashion. Weeks passed as we pushed for our negotiator to move our approval along. Periods of complete lack of response were followed by Nationstar fumbling around and then disappearing again.
Five solid months passed until we were finally able to get our short sale approval, and a few weeks later this Southington, CT short sale finally closed!
Minna Reid is The Broker - Owner of Reid Real Estate Group. Reid Real Estate Group is a full-service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.