Regions Mortgage Inc. Short Sale

Regions Mortgage Short Sale Process

In most of the cases it is required that the customer will forst have to apply for Regions Mortgage Loan Modification but after decline the process for short sale is simple:

1. To initiate the short sale process with Regions Mortgage we place a call to them and talk to their councellor
2. The completely filled Regions Request for Mortgage Assistance (RMA) will be required with the supporting documents.
3. It will be required to schedule and complete a broker’s price opinion (Some investors require two interior inspections)
4. Negotiations of new terms with Regions Mortgage about Short Sale Fees And Costs To Be Paid Out Of The Seller’s Proceeds.
5. Lender (Regions Mortgage) Provides A Response To Short Sale Offer Made.

The Short Sale process with Regions Mortgage is much difficult from what it looks like. When applying for short sale with the company it feels like something always comes up. While dealing with short sale negotiators it is typical to repeat the same steps over and over. We will have to run around from department to department while dealing with Regions Mortgage short sale. The Loan Modifciation Department maybe needs to close it out, or the short sale department doesn’t have someone assigned to Regions 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.

Regions Mortgage Short Sale Timeline

When dealing with what effects the Regions short sale timeline you should know that it is effected by some simple factors but sometimes not so simple factors. These are just a few of the hoops we have to jump through when dealing with a short sale.

• For one, Regions Mortgage is only a mortgage notes service provider and are usually representing debt on behalf of the investor. Regions Short Sale Application is generally only a piece of what governs Regions 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. Mostly the investor for which the company is servicing the loan for does not allow Regions Mortgage to make all the decisions themselve, they have to get permission for the decisions that they are not allowed to make. 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 question that whether your Regions Mortgage loan has a sale date or not. If it comes to the situation that the foreclosure has to be stopped so that Regions Mortgage short sale can be completed, the company can be difficult to deal with. You can majorly improve your chances of getting bumped up 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 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 Regions 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.

Regions Mortgage Short Sale Timeline Conclusion: Your Regions 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 Regions’s Short Sale Department compared to what the offer is that is being made to them, how fast Regions Loss Mitigation department received the Regions’s Short Sale Application documents are received (readable) and other factors will come together to effect how long it will take for your Regions Mortgage Short Sale to be Approved.

How To Fix A Regions Mortgage Short Sale Decline?

Often dealing with Regions 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 Regions 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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