After nearly 2 years. Attempting to perform a short-sale with Flagstar since our mortgage was under-water (fair-market value significantly less than that which was possessed) & with Flagstar continuously dropping paperwork, countless resending & rejected to get a mortgage loan modification Flagstar was reluctant to simply accept a money present for the things they decided to become the fair market price. Alternatively, Flagstar purchased our home for $100.00 in the foreclosure market & rejected the $309,000 cash supply. The buyer was prepared to purchase the home within the "as-is" situation since it was actually falling apart (which Flagstar was conscious of the bad situation with the numerous difficulty characters they required & obtained, such as the illness of the dog owner-cancer, brain growth, etc.) I don't know how Flagstar could possibly get away with one of these techniques.in my opinion Flagstar wishes individuals to foreclose to ensure that them to obtain the entire mortgage through HUD. Why does a government organization like HUD allow this Lender make the most of a government business. Is that this typical to get a government business to become blindsided by banks for example Flagstar? Is that this the way in which HUD gets their property-from sincere hardworking individuals who encounter sudden difficulty for example disease & lack of employment? They market these REO homes to property & meanwhile individuals are trashed of the houses using their credit ruined. A brief selling has less of the bad effect when compared to a foreclosure. I submitted a problem using the CFPB, even though it is most likely too late in order for them to assist.
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