ED Magedson – Founder
Select Portfolio Servicing 6 month delay for short sale approval; Salt Lake City Utah
I was admitted into the HAFA Short Sale Program in February of 2013. An Appraisel was done and a listing price established. In March I received a cash over thru my realtor which exceeded the listing price, the buyers also agreed to negotiate a payoff with and additional lender. The offer was submitted around March 29, 2013. Select Portfolio Servicing asked for some additional documents which were provided. The approval has been in review for 4 months and nobody can say why? I received letters every 15 days saying, we're sorry it's taking so long but we expect to have an answer in 15 days, I've received about 6-8 of these letters. They call every week for no reason and can give me no answers. The sent my case for legal action in September. I have a hearing for Summary Judgement on October 21, 2013.
I though HAFA regulations required an answer in 10 days? I'm going to contact my Congressman and State Representative and see if they can get some movement on this case.
Anybody else having the same problem?
This report was posted on Ripoff Report on 10/18/2013 01:03 PM and is a permanent record located here: http://www.ripoffreport.com/reports/select-portfolio-servicing/utah/select-portfolio-servicing-6-month-delay-for-short-sale-approval-salt-lake-city-utah-1092917. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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