FHA - HUD Short Sales
HUD rules for FHA short sales, tips, experiences, etc.Fax LOA: 918-236-3274PH 877 622-8525See More
Short Sale Superstars
Providing you with the knowledge and tools needed to succeed with Short Sales.
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Metlife Shortsale
Started by Jennifer Randall-Enderson in Short Sale Discussions. Last reply by Sam Cavanaugh 4 hours ago. 2 Replies 0 Likes
Short Sale with Seller being an LLC
Started by Martin Dragnev in Short Sale Discussions. Last reply by Sam Cavanaugh 7 hours ago. 2 Replies 0 Likes
Fannie Not Giving Anti-Deficiency Releases In Anti-Deficiency States?? (PHH)
Started by Christopher Pendleton in Short Sale Discussions. Last reply by Jeff Payne 12 hours ago. 3 Replies 0 Likes
Flagstar Help
Started by Cody Lampariello in Short Sale Discussions. Last reply by Cody Lampariello 12 hours ago. 4 Replies 0 Likes
Buyer submits offers on multiple short sales with no intention of buying them all!
Started by Sean Crosier in Short Sale Discussions. Last reply by P Nicolas Velecico 3 hours ago. 11 Replies 0 Likes
Anyone know of a great debt negotiator for sellers with Promissory notes?
Started by Jae Evans in Short Sale Discussions. Last reply by Eric Simkin 13 hours ago. 1 Reply 0 Likes
Suggestions on stopping FANNIE MAE foreclosure - Suntrust has had the SS since NOVEMBER!!! GRR
Started by Smitty in Short Sale Discussions on Saturday. 0 Replies 0 Likes
Short sale newbe!!
Started by Timothy Dutch in Short Sale Discussions. Last reply by Joseph Alfe on Friday. 3 Replies 0 Likes
I Need HELP with a BPO from ING
Started by Scott Douville in Short Sale Discussions. Last reply by Justin yesterday. 9 Replies 0 Likes
Have you had BOA close files in Equator with no explanation?
Started by Spencer Lugash in Short Sale Discussions. Last reply by Eric Mieles on Sunday. 8 Replies 0 Likes
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Latest Activity
Approved Short Sales (letters)
I believe this will be helpful to anyone wanting to view Short Sale Approval Letters.Please upload approval letters and HUDs of interest. Be sure to mark out any personal information as names and addresses.See More
Tni LeBlanc joined Lillie Dominguez's group
P Nicolas Velecico replied to Sean Crosier's discussion 'Buyer submits offers on multiple short sales with no intention of buying them all!'
I have run into these buyers and they way I handle it is that they will loose their deposit if they dont go through with the sale
Sam Cavanaugh replied to Jennifer Randall-Enderson's discussion 'Metlife Shortsale'
Best thing that can happen on a met life short sale is that they transfer servicing to Nation Star during the process. I have heard nothing but nightmares with met life, and the two files I have worked with them, started off as nightmare black hole…
Smitty replied to Jennifer Randall-Enderson's discussion 'Metlife Shortsale'
Jen, I don't have one, but the last Metlife SS we did was a nightmare. I hope someone posts back for you. They are worse than Suntrust and I used to think Suntrust was the worst.
Metlife Shortsale
Anyone know of a "back door" contact at Metlife? A good One? One that actually will give you straight answers when it comes to confirming receipt of docs and will not put you on eternal hold or disconnect you? I have been trying to confirm receipt of documents for over two weeks on a file even after sending the same information to them via two different fax numbers numerous times this month. I know part of the problem lies in the timeliness of the information being uploaded and the accounts…See More
Discussion posted by Jennifer Randall-Enderson
Jeanne M. Dolan shared a profile on Facebook
Smitty replied to Rochelle Castro's discussion '3rd party SS Processors'
Eric, this is what I'm not understanding in your argument:
"Now in your model he would have been overextended and/or would have ahd to dip into his reserves to pay YOU "
No one is dipping into reserves. What does the buyer want…
Joseph Alfe replied to Rochelle Castro's discussion '3rd party SS Processors'
Don't forget though, that all decisions are that of the sellers. The agent can recommend, I can recommend, but the decision to accept or deny is always the sellers.
Martin Dragnev replied to Martin Dragnev's discussion 'Chase Loan, Freddie Mac investor, HAFA program'
Thanks Penny for the feedback and I'm sorry to hear that after so much hard work you werent able to close on those homes.
Marcy, all information points to the fact that Freddie Mac in a position of an end investor requires a HAFA short…
Joy Baker replied to Martin Dragnev's discussion 'Chase Loan, Freddie Mac investor, HAFA program'
Marcy - Wells was the Servicer but who was the investor? As we discussed, if you accept an offer prior to HAFA approval and the Investor is Freddie you get drop kicked out of the program.
Penny - Did your clients get the BS letter that led…
Coleen DeGroff replied to Coleen DeGroff's discussion 'Form to extend HAFA short sale date?' in the group Bank of America Short Sales
Awwww, Thanks Sameer! I needed that! :)
I have a client who moved into a home they had been renting. How long must they reside there before it becomes their permanent residence?
Status posted by Bob Wienk
Mark replied to Sean Crosier's discussion 'Buyer submits offers on multiple short sales with no intention of buying them all!'
A ninety-day lock is fair, that is more than enough time for a bank to evaluate an offer,
Any more than that is abusive- remember, a short-sale is always contingent on the lender.
Locking in a buyer is only fair if the lender is actually…
Mark replied to Sean Crosier's discussion 'Buyer submits offers on multiple short sales with no intention of buying them all!'
A buyer's agent has a duty to his client, not the short seller.
As an investor, I definitely see the other side. I was the first offer on a short sale that took a full year to close.
On another deal, I was buyer number 4 on a deal…
Marcy Spieker replied to Martin Dragnev's discussion 'Chase Loan, Freddie Mac investor, HAFA program'
My last deal with Wells Fargo went HAFA and we did not get HAFA approval prior to a contract. We submitted the request for HAFA short sale and the contract all at the same time with the short sale package. There was also a 2nd that had…
Sameer Punjani replied to Coleen DeGroff's discussion 'Form to extend HAFA short sale date?' in the group Bank of America Short Sales
just stay #positive #youwillmakeit
Negotiation Strategies
For strategies that are working to get your deals to the table and closed.Since we all don't have a Nestor :-), what are the best ways to get your deal done and closed if you have just one mortgage, two or three mortgages or any other liens.See More
Diego Marin and Keith Canty joined Mori Langshaw Sr's group
Jeff Payne replied to Rochelle Castro's discussion '3rd party SS Processors'
Good debate guys, there are going to arguments to both sides of this debate. Like Bryant said, keep it cool and dont resort to any personal attacks. Eric, Joseph and Smitty, all three of you are great contributors to this site and I…
***Disclaimer
REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.
Blog Posts
Update on Chase deal
Posted by Mary Margaretich on January 30, 2012 at 2:54pm 0 Comments 0 Likes
My seller ended up getting $30,000 from Chase and $3000 in moving incentive from HAFA program. Wonders never cease.
Really Enjoy Wendy and Brian's Webinars!
Posted by Rhonda Duffy on January 30, 2012 at 10:03am 2 Comments 0 Likes
Wow! I am loving Wendy and Brian and the information! We have done a ton of short sales but this is good stuff!
Current Lender Credits Given to Sellers
Posted by Rhonda Duffy on January 30, 2012 at 10:02am 1 Comment 0 Likes
Hi Everyone,
What are the current lender credits available to Sellers?
Underwater Mortgage Lenders
Posted by Rhonda Duffy on January 30, 2012 at 9:23am 1 Comment 0 Likes
Hi Everyone,
We have had some success with a simple underwater mortgage hardship. I am still hesitant to let that be the only hardship with folks. Any advice?
Thanks in advance,
Cupertino Distressed Property Watch 2011
Posted by Marcy Moyer on January 29, 2012 at 10:44pm 0 Comments 0 Likes
It's the beginning of the year so time for the round-up of last year's distressed property sales in Cupertino. So here's what happened:
Single family and condo townhomes :
Total sales: 453
Short Sales: 21
REO: 11
Distressed sales as a percentage of total sales: 6.8%
Compare to 2010
Total sales: 844
Short Sales: 31
REO: 33
Distressed sales as a percentage of…
Continue
Newsletter: Does The Seller Have To Be Delinquent To Do A Short Sale?
Posted by Bryant Tutas on January 29, 2012 at 8:12am 0 Comments 0 Likes
PRINCIPAL REDUCTIONS – WILL THE BANK GUARANTEE THE VALUE OF YOUR HOME?
Posted by Richard Zaretsky on January 27, 2012 at 10:35pm 2 Comments 0 Likes
In a briefing by Credit Suisse this week, the financial giant’s opinion was that reducing principal balances of underwater mortgages is a risky idea that has not been shown to keep underwater borrowers from later defaults. In my practice as a Florida real estate lawyer, that opinion flies in the face of borrower sentiment. The guiding force in the Credit Suisse statement seems to be the “…
Continue Verbal Agreement from Chase, help!
Posted by Lauren Michaels on January 26, 2012 at 1:43pm 0 Comments 0 Likes
Since we (the buyers) started this endeavor in July (2011), we've pushed the foreclosure date 4 times, had countless negotiations with the bank and just this month we FINALLY came to an agreement with them. A verbal agreement that is. It's been 3 weeks and we still haven't received anything in writing so we pushed the foreclosure a 5th time. Is the bank just pushing it so they can keep sitting on this contract and eventually just say no? How long does it typically take from a verbal contract…
ContinueUSDA Chase Short Sale Approved Santa Rosa Beach Florida
Posted by Wendy Rulnick on January 25, 2012 at 6:43pm 0 Comments 0 Likes
This Church Street home in Santa Rosa Beach Florida was originally purchased as a short sale in 2009. For the second time, it is being sold as a short sale, just approved by J.P. Morgan Chase. The mortgage was backed by Ginnie Mae, and was a …
Continue
Short Sale Road Rules: Getting Buyers and Sellers on the Same Page
Posted by Joseph Alfe on January 24, 2012 at 9:00pm 0 Comments 0 Likes
Short Sale Road Rules: Getting Buyer and Seller on Same Page
One of the most neglected, and yet, most important part of a successful short sale is getting both buyer and seller on the same page. This may stem from the traditional way of thinking on a traditional “retail” sale: It’s “Us against them.” This does not apply to short sales, and if you can over come this mentality, your closing success will…
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REGrow, LLC does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.
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