I am looking to do a short sale w/ ING direct. Any a...
Submitted by ryans18
from AZ
- 02/15/2009 - 8:15pm
I am looking to do a short sale w/ ING direct. Any advice for this lender? I bought my house for $400k. I refi'd for $550k 2 years ago. I have no 2nd and ING has the first. Right now, my home is worth about $380k based on recent sales. Suggestions?
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Ryan -
ING has been somewhat decent to work with on a short sale.
I can refer you to a Certified Distressed Property Expert (CDPE) in your area who would be best to assist with the entire process.
Send me an e-mail with the location of your home and I'll send you a top agent who is specializing in short sales in your area.
BOB
bob@inspiragroup.com
949-600-5404
If you refi'd and cashed out (which it looks like you did because your loan amount is much higher now), you're going to be responsible for that difference. Banks will be leinient if your short sale offer dealt with just your purchase money, but you took an additional loan, a substantial one at that, they'll come after you for it.
I am also in a similar situation with ING Direct. Does anyone can help share any information regarding a Short sale with ING Direct? How long does it take, any forms to submit etc. Any information/forms would help. Appreciate it. Thanks
ING holds their own loans (paper) thus they not likely to deal.
let it go all the way to foreclosure and they can't go after anything.preclisse dhimmis,
Do you have experience with ING foreclosure? We are going through the process and ING did not talk to us for loan mod at all. They filed NOD and now foreclosure process is on.
I am currently applying for a short sale with ING. While waiting for it to be processed, I have stopped paying my mortgage (I'm unemployed and have been advised that there's no point in continuing payments). ING has yet to review my application BUT without warning or any notice HAS FROZEN my ING savings account has withdrawn payments to cover the mortgage. I had no idea they could do that and am seeking legal counsel to recover my funds. If anyone knows of ongoing lawsuits or lawyers interested in taking up this case, please let me know.
ING customers beware!!!
Hi Milebee,
WOW! I have not actually heard of a lender doing this. I would immediately pull a copy of the Note and Deed of Trust and review it for any language that would suggest that they can seize funds from your savings account. If you do not see anything I would contact an attorney immediately. I would contact a local real estate agent in your area and see if they can refer you to an attorney. Additionally I would reach out to my elected officials with a letter regarding this matter. Never underestimate the power of your Congressmen and Senators.
You can also reach out to a free HUD approved housing counselor in your area by going to MakingHomeAffordable.gov.
Please keep us posted on how this works out!
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