• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Mike Stankavich

Data Scientist, IT Strategist, Code Artisan, Traveler, Dad

  • Home
  • About
  • Services
  • Contact

More Stupid Mortgage Lender Tricks

July 14, 2009 by Mike Stankavich Leave a Comment

After last week’s fiasco with Wells Fargo not processing the payment from my short sale closing, I thought it couldn’t get any worse. I was wrong. I called today to confirm that the payment had been received and that the loan had been closed. They said yes, they received the payment, but no, the loan wasn’t closed. Apparently they need a stamped HUD-1 from the title company. Supposedly they asked title to send this to them late last week. That’s almost two weeks after the closing. Why they couldn’t have asked for that right away is beyond me. These obstacles continue to come out of the woodwork. I don’t think that I am at risk, and I sure hope that the buyer isn’t at risk. But it’s damned frustrating to have made it through the entire short sale process and still face loose ends.

I ran into yet another stupid bank trick from my HELOC lender. Their statement came in the mail a couple days ago and showed the same past due amount as before even though they received $3k from the short sale. Rather than applying the 3k as a payment, they applied it as a principal reduction without reducing the past due amount. Doesn’t matter, they will get nothing from me anyway. But I found it interesting that they want to make it hard rather than easy. They refused to release liability as part of the short sale, which will push me over the edge into Chapter 7. It’s just plain stupid on their part. They should realize that if I had money to pay them, I wouldn’t be doing a short sale in the first place, and that the odds that they will ever collect on that loan are minimal.

If nothing else, this experience has proved to be an education. I’ll follow up when I know more.

Filed Under: Uncategorized

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Posts

  • Yes, I know Linux
  • When I grow up I want to be… a Data Scientist!
  • Email Outage
  • Typhoon Juan (Megi) Update
  • The Big Move Part 3: Hawaiian Interlude

Recent Comments

  • Mike Stankavich on About
  • Nelda on About
  • Mike Stankavich on About
  • May on About
  • tuan on Typhoon Juan (Megi) Update

Archives

  • July 2013
  • June 2013
  • September 2011
  • October 2010
  • September 2010
  • August 2010
  • April 2010
  • March 2010
  • November 2009
  • October 2009
  • July 2009

Categories

  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Copyright © 2023 · Genesis Sample on Genesis Framework · WordPress · Log in