Nationstar

The rising costs of living and long daily commute left these CT homeowners tired and scraping change to make ends meet until they decided they had enough. Realizing they would likely never pay their way out of the upside down home they decided to cut their losses and short sell their home to move closer to work.

Originally a Bank of America first and second mortgage, the week we listed the home the first loan got sold to Nationstar, making the process a little more complex than originally anticipated.

It took two months to find a buyer for this home in the dead of winter. A short sale package headed to the lender. Nationstar is hit or miss. They have been known to be on the ball and approve in a few short weeks, and I have also seen the…

So it seems at least a few lenders are successfully incorporating HAFA into their short sale processing. Despite massive delays in HAFA processing with most lenders, at least Nationstar seems to have this HAFA thing down.

Back in May of 2011, this Plainville, CT property was first listed. Two months later we secured a buyer for the property. The file headed off to Nationstar. Unfortunately the first time around the file lagged at Nationstar so long that Hurricane Irene came to Connecticut and sent most of my clients street underwater.

The property flooded, became uninhabitable and the buyer walked. In September we went back on market. Soon after we secured a cash buyer...however yet again Nationstar took their sweet time and by January our…

While none of my other HAFA experiences have ever been good ones, this Nationstar short sale was the exception to the rule and hopefully a sign of things to come.

My clients came to me when their two mortgages with Nationstar had become debilitating and their commute to work had become unmanageable.

After 6 weeks on market a buyer was secured and a full short sale package headed to Nationstar.

 A few weeks later I heard from our negotiator.

While my client was not “delinquent enough” to be approved for an in-house short sale, they could be approved via HAFA.  Despite 9-15 month timeframes on my previous HAFA approvals, seeing no other option I advised my client to go ahead and attempt the HAFA short sale.

To my surprise – Less than…

A Connecticut MorEquity Short Sale Success

Owed $210,000

Settled in FULL: $115,000

These Connecticut sellers called me in January of 2010. At their wits end, they knew they were between a rock and a hard place and desperately wanted to make the best of their situation. He had a loss of income. She was commuting 1.5 hours to work every day.

It was a struggle to make the payment every month and funds were running out.

The property went on the market at a fair price..or so we thought...Unfortunately we ended up chasing the market down for several months as the market fell apart far faster than anticipated. In April we secured a buyer.

MorEquity proved to be a breeze to work with ( as most small banks are) with a single person short sale…