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#354482 - 10/13/10 04:09 PM
Occupants Backed Out Of CFK Agreement
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Member
Registered: 04/27/09
Posts: 409
Loc: So Cal
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I was scheduled to complete a CFK today with the occupants receiving $5K. They just called me and said they have been watching the news and believe they can save there home and retained a lawyer. Damn! The home belongs to Deutsch Bank and my assignment is through SS. Is Deutsch Bank one of the banks that's holding foreclosures? I informed the occupant that they will not receive the CFK offer anymore and they are ok with that.
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#354487 - 10/13/10 05:28 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: PhoenixReo]
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Member
Registered: 04/27/09
Posts: 409
Loc: So Cal
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See if the seller will increase the CFK. More money may change the occupant's mind. I just did one for $10,000 and got them out in one week. Originally the occupants wanted $10K but the bank held firm at $5K. At this point it's not about money. The occupants really want to keep the home.
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#354518 - 10/13/10 07:57 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: PhoenixReo]
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Major Contributor
Registered: 09/24/06
Posts: 1967
Loc: US
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I wouldn't worry about it. The bank is still proceeding with eviction in case things like this happens. Let your AM or eviction coordinator know what is going on so they can give them the boot.
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#354521 - 10/13/10 08:30 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: BpoBill]
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Veteran Member
Registered: 01/11/06
Posts: 690
Loc: Missouri
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All my evictions were put on hold today. Chase and BOA.
_________________________
Broker Associate since 1994
REO's and BPO's since 1996
Do not ask the higher power to guide your footsteps if you are not willing to move your feet.
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#354533 - 10/13/10 11:31 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: PhoenixReo]
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Member
Registered: 04/27/09
Posts: 409
Loc: So Cal
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If that is what they really wanted, they would have made their payments. Now, with all the confusion going on with foreclosures, they can probably stall some more and live there free for a few more months. They were trying to get a loan mod through NACA and were told to stop making payments. During this time they were foreclosed upon.
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#354557 - 10/14/10 08:31 AM
Re: Occupants Backed Out Of CFK Agreement
[Re: REO4freedom]
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Major Contributor
Registered: 05/17/07
Posts: 1858
Loc: Texas
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The home belongs to Deutsch Bank and my assignment is through SS. Is Deutsch Bank one of the banks that's holding foreclosures? You need to find out who the servicer is. Deutsche Bank is just an investor--the servicer is who foreclosed on the property. I've gotten DB properties through OWB, BofA, Chase, and others.
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#354579 - 10/14/10 10:37 AM
Re: Occupants Backed Out Of CFK Agreement
[Re: northtxbroker]
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Member
Registered: 04/27/09
Posts: 409
Loc: So Cal
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The home belongs to Deutsch Bank and my assignment is through SS. Is Deutsch Bank one of the banks that's holding foreclosures? You need to find out who the servicer is. Deutsche Bank is just an investor--the servicer is who foreclosed on the property. I've gotten DB properties through OWB, BofA, Chase, and others. The servicer is Federal Home Loan Mtg Corp. The eviction is in process.
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#354614 - 10/14/10 03:32 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: REO4freedom]
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Major Contributor
Registered: 09/24/06
Posts: 1967
Loc: US
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Nothing to worry about. They will get the boot but it might take some time. Most of mine happen in a month or two.
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#354952 - 10/18/10 05:12 PM
Re: Occupants Backed Out Of CFK Agreement
[Re: REO4freedom]
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Veteran Member
Registered: 11/08/07
Posts: 679
Loc: Los Angeles County
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If that is what they really wanted, they would have made their payments. Now, with all the confusion going on with foreclosures, they can probably stall some more and live there free for a few more months. They were trying to get a loan mod through NACA and were told to stop making payments. During this time they were foreclosed upon. Is NACA going to let the folks move in with them when they get the boot? (kidding). They should call NACA and ask what now. I can't believe anyone would advise you NOT pay your mortgage. Seems like it would open you up for a nice fat law suit.
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