Seterus Short Sale Success in Jacksonville FL

Are they IBM?  Are they LBPS?  Are they IBM LBPS?  Are they Seterus?

This mortgage servicer keeps changing their name or creating new arms or something.  Trying to research who they are and who you are dealing with is very difficult in this company.  They've had so many complaints, it seems they just keep creating new entities.  None of that matters.

This was a successful Seterus short sale that just closed.  The process was relatively smooth despite the negative press this servicer is constantly hammered with.  It took about 90 days to get the full approval, but that was mostly due to some major repair items that were discovered during inspections.

The new owner of this property was very savvy.  They requested the bank reduce the price by including the inspection report and 3 contractor quotes for the repairs.  Seterus agreed, but then had to get the final sign off from the investor....which they also agreed.  The buyer was able to reduce the purchase price, then finance the hefty repair bill with the FHA 203K construction loan that their Wells Fargo loan officer advised.

The seller was very happy to move on, and the buyer was very happy to get a great deal on a great house.

Posted by Brad Officer on
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