360 Mortgage Short Sale

360 Mortgage Short Sale Process

Some investors have a requirement that you will first have to apply for 360 Mortgage Loan Modification but once you have been declined for it the process becomes pretty simple:

1. To initiate the short sale process our representative will have to place a call to the 360 Mortgage and talk to their counselor.
2. You fill be required to completely fill the 360 Mortgage Request for Mortgage Assistance form and submit it with supporting documents and finances.
3. Property valuation will have to be scheduled and completed by Broker’s price opinion (Certain Investors Require Two Interior Inspections)
4. Negotiation of terms with 360 Mortgage About Short Sale Fees And Costs To Be Paid Out Of The Seller’s Proceeds.
5. Lender Provides A Response To Short Sale Offer Made.

The short sale process with 360 Mortgage is never easy and anyone who has been through the process will know this. A lot of problems will have to be faced. Its very typical that you will have to repeat the same steps again and again. You should know that we will have to run around from department to department during the 360 Mortgage short sale process. The Loan Modification Department maybe needs to close it out, or the short sale department doesn’t have someone assigned to 360 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.

360 Mortgage Short Sale Timeline

It can be really helpful to the process if you know what effects the 360 Mortgage Short sale timeline. These are just a few of the hoops we jump through when dealing with a short sale.

• For one, 360 Mortgage is just a mortgage note service providing company. 360 Mortgage Short Sale Application is generally only a piece of what governs 360 Mortgage’s mortgage servicing as they have to bide by the PSA or Pooling and Servicing Agreement that sets the rules for each and every loan; This contract is directly between servicer and investor. 360 Mortgage is not allowed to make all the decisions themselves. The investor only authorizes the company to take the decisions themselves in some of the cases only so for the decision that they are not authorized to make they will 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 layers of bureaucracy you’re going to deal with the longer it’s going to take.
• Additionally, The fact that if your 360 Mortgage loan has a sale date also effects the timeline of the short sale process. 360 Mortgage can be a lot difficult to deal with when it comes to stopping of foreclosure process so 360 Mortgage short sale can be completed. Your chances of getting bumped up in the process can improve if you can get a value completed. As a loan servicer they have homes being sold at auction every day. Sale dates even for the coming week are not working with urgency 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 negotiators were created equal; This goes for both sides. Often miscommunication is the number one reason while a short sale fails. People become very specialized in this niche of representing homeowners (borrowers) in front of 360 Mortgage in these financial application processes to find mortgage assistance. Often you will be put through the multiple levels of management including approval from an investor as mentioned above depending on what their total losses are.

360 Mortgage Short Sale Timeline Conclusion: Your 360 Mortgage Short Sale Timeline will vary based on many different factors. Decisions can be made in house will clearly be quicker than those that have to be sent out for approval., what the value comes back at from the appraisal completed by 360 Mortgage’s Short Sale Department compared to what the offer is that is being made to them, how fast 360 Mortgage’s Loss Mitigation department received the 360 Mortgage’s Short Sale Application documents are received (readable) and other factors will come together to affect how long it will take for your 360 Mortgage Short Sale to be Approved.

How To Fix A 360 Mortgage Short Sale Decline?

Often dealing with 360 Mortgage Bank 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 360 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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