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Updated over 10 years ago,
Repossession/short sale question
I've been representing a client the last few months on a property that we've been trying to negotiate a short sale on with a mortgage servicing company. It's been about 3-4 months. The property has been off the market. At first they had no information for me to try to negotiate with them and then no one returned my calls. I finally get some answers, contact the owner of the property and had him give me authorization to negotiate with the bank. I sent over a purchase and sales on June 5th and called a few days later and come to find out there is an auction the 11th. Me and the buyer went and it was sold back to the bank. So I called the servicing company again today and they said the home is repossessed and a short sale can not be negotiated now.
My question is why didn't they ever try communicate with me? I called so many times.
And second, is it still possible to help my client get this property? What happens next with the property?