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Saxon (The servicing arm of Morgan Stanley)
Short Sale Report
| Time to Acknowledge |
Time to Approve |
Commissions | Full Release Available |
Comments |
| 3-5 days | 60+ days | Unknown | usually |
It appears that all files will be outsourced to component servicers. The servicers will be incentivized to close files but they will also be following the instructions from the lender very closely since they will be dependent on these lenders for additional business. We are told to expect a short sale to take over 17 months on average to close. Contact Info: Loan Servicing: 800-594-8422 Loss Mitigation Phone: (888) 325-3502 Fax: (888) 240-1885 https://www.saxononline.com/common/homepreservation/ Email for short sale info: shortsalenow@saxonmsi.com
Comments
I have negotiated a short sale with Saxon that will close soon. I have a recourse loan with them and I live in California. I owed $472k and the short sale is for $255k. A previous negotiator said that when the sale is final they will post "Paid As Agreed" on my credit. My lawyer says there is nothing from preventing them coming back to me for any losses. I debating letting it go into foreclosure and taking the credit hit instead of taking the chance of filing bankruptcy down the road.
Does anyone have any info to share on this matter. I am days away from closing.
Francis
I just closed on 1 with them, they were the 2nd..took about 2months, not too bad. Took me a while to get through my negotiator but we got it done.
Just closed on 1 with them, they were the 2nd..took about 2months..had issues getting in contact with negociator but after I did everything went pretty smooth..
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