Caliber Home Loans/LSF8 Master Participation Trust ??

[Andrea M.]

Not sure if I am in the correct forum for this post...but here goes:

Does anyone have any experience with Caliber Home Loans who are serviced by LSF8 Master Participation Trust . Initial lender was Beneficial ( listed as a short sale ) but was sold to the above company recently. Any insight would be helpful.

[Dion DePaoli]

Andrea,

The property owner can speculate on how the mortgagee will handle a short sale or DIL but really she should simply contact the servicer and inquire about either the short sale or DIL. March is still two months away and it doesn't sound like she has overly communicated her intentions nor aligned her intentions with those of the mortgagee.

There is no duty for the mortgagee to accept less than the total amount owed under the note regardless of the intentions of the borrower. A lender may not want to take a DIL for various reasons. It sounds like the borrower made her plan and wants it to go according to her desires but when she failed to maintain the debt service and now can't sell the property to pay for the loan, she doesn't really sit in the driver seat of this situation. As such, she can make decisions on her own plans but those might be made in a bubble. She needs to get the servicer and mortgagee involved in the resolution.