21st Mortgage Corp. Short Sale

21st Mortgage Short Sale Process

For most of the cases the investors require you to first apply for 21st Mortgage Loan Modification but once they decline your request then the process for short sale is pretty straightforward:

1. To start the short sale process our agent will have to place a call to 21st Mortgage and talk to their councellor over the phone.
2. It will be a requirement for you to submit the 21st Mortgage Request for Mortgage Assistance Package with all the supporting documents.
3. It will be required to schedule and complete a broker’s price opinion (Some investors require two interior inspections)
4. The terms for purchase prices and closing costs will have to negotiated with 21st Mortgage about Short Sale Fees And Costs To Be Paid Out Of The Seller’s Proceeds.
5. Lender 21st Mortgage Provides A Response To Short Sale Offer Made.

We are very sorry to inform you that 21st Mortgage is not an easy company to deal with especially during the short sale process. It often feels like that something always comes up when applying for the short sale process. It is very common practice that you will have to will have to repeat the same steps over and over. While dealing with 21st Mortgage short sale process we will have to run from department to department. The Loan Modification Department maybe needs to close it out, or the short sale department doesn’t have someone assigned to 21st Mortgage Customers Service Department; Above all you need to know better when they are sending you in the wrong direction. Often clients come to us after submitting the wrong information on their application, getting denied, and not being able to figure out what happened. We can help you review any declines.

21st Mortgage Short Sale Timeline

While dealing with the 21st Mortgage short sale process it can greatly help the process if you know what effects the timeline of the short sale process. These are just a few of the hoops we have to jump through when dealing with a short sale.

• For one, 21st Mortgage is only a  servicer of mortgage notes. 21st Mortgage Short Sale package is generally only a piece of what governs 21st mortgage servicing as they have to bide by the PSA or Pooling and Servicing Agreement that sets the fules for each and every loan; This contract is directly between servicer and investor. The investor for which 21st Mortgage is servicing do not allow them to take all the decisions themselves so this means that for decisions they cannot take themselve they have to get permission from the investor. Some investors such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) have pulled almost all decision making authority from many servicers. The more parties you have to deal with the longer it’s going to take.
• Additionally, The fact that whether your 21st Mortgage loan has a sale date or not also greatly effects the timeline. 21st Mortgage can be really tough to deal with when it comes to stopping the sale so the 21st Mortgage short sale process can be completed. If you can get a value completed your chances of getting bumped up majorly improve. As a loan servicer they have homes being sold at auction every day. Sale dates even for the coming week are not worked with ugency you would expect. As a first come first serve business model it can also be influenced by foreclosure status and proximity to the upcoming sale date (if applicable).
• Finally, not all negotiations are equal; This goes for both sides. Often miscomunication is the number one reason why a short sale fail. People become very specialized in this niche of representing homeowners (borrowers) infront of 21st Mortgage in these financial application processes to find mortgage assistance. Often you will be put though the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are.

21st Mortgage Short Sale Timeline Conclusion: Your 21st Mortgage Short Sale Timeline will vary based on many different factors. Decisions that can be made in house will clearly be quicker than those that have to be sent out for appoval, What the value comes back at from the appraisal completed by 21t Mortgage’s Short Sale Department compared to what the offer is that is being made to them, how fast 21st Mortgage Loss Mitigation department received the 21st Mortgage’s Short Sale Application documents are received (readable) and other factors will come together to effect how long it will take for your 21st Mortgage Home Loans Short Sale to be Approved.

How To Fix A 21st Mortgage Home Loan Short Sale Decline?

Often dealing with 21st Mortgage and how they deal with short sale buyers offers being declined may be confusing. Often they will not be clear not only as to why but if there is anything that can be done to fix it.  Here at ACG we review dozens of points in order to understand why your 21st Mortgage short sale offer was rejected. Have us review your declined short sale for free by calling us at 888-934-3444.

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