CLC Consumer Service CLC Mortgage, E*Trade Dealing with CLC is a waste of time and resources. They are failing to meet shareholder oblgations. Internet

Our real estate company represented a seller in a potential short sale.  This client’s home was worth significantly less than she owed to her lenders.  She had a verifiable loss of income due the economy and no capacity to make up the difference in what we could sell the home and how much she owed.  The classic tests for a short fall.  In this particular case CLC was the junior lien holder. 

Within 45 days of accepting an offer we had approval from the senior lender.  Five months later with two buyers walking we finally received a counter offer from CLC demanding a payment of 30 percent of their loan balance ($37,000) and assurances the seller would acknowledge she owed the remaining balance. 

This was information that could have been provided on the day after they received the request package, why did we have to wait over six months and provide document after document?  What makes this even more remarkable is the loan CLC holds is a purchase money transaction which means for a California borrower the lien will be wiped out through foreclosure and CLC will be barred from any additional collection opportunities.

Working short sales is very difficult as it is but when you run into companies like CLC it becomes a nightmare.