Nationstar Home Mortgage Negotiatorrefusal to accurately review a short sale

I have been in escrow for the purchase of a short sale home in Oregon since July 2014. The delay in closing has been primarily due to the second mortgage bank (US Bank) not signing the loan documents, although they had previously agreed to the terms of the short sale with NationStar. In January 2015 the home moved to redemption status and was under review by an asset manager and then by a "negotiator" (Earnest Jackson). This prolonged short sale process was well known by this negotiator because after my first offer was accepted Nationstar brought in another appraiser and raised the price (Earnest Jackson sent the notice of the increase) on the home in September 2014. I raised my offer and it was accepted. On February 2015, the loan review was declined by citing that there is no redemption period in the state of Oregon. The reality is that there is a redemption period of 180 days in Oregon and the home can be sold as a short sale until June 2015 as long as the seller agrees to proceed with the sale. The listing agent informed the Nationstar negotiator that there is a demotion period, but he has refused to reopen the review process, which forces us to wait until the home goes to foreclosure in June. If there is no redemption period, why does Fannie Mae still list the home as in redemption and allowing 180 days for the home to be sold prior to foreclosure? Does NationStar receive more funds by waiting for it to foreclose. I am seeking legal opinions on Monday and if they may advise me to file a lawsuit for negligence. If you have a familiar story, email me at [protected] I have filed complaints with several agencies and contacted the congressman in Oregon who is investigating.

Nationstar Home Mortgage Negotiator

Feb 08, 2015

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