"How was this resolved? I am getting the same thing. I have a clause in the listing contract that says the "sales commission may not be reduced to less than 6% as a condition of the sale". And I am running into the same thing."
"My experience has been that you can get list price guidance without an offer using HomePathforshortsales.com. If it comes back high, you can even dispute the valuation before you get an offer. Just did this on a Seterus deal."
"My procedure is get listing agreement signed, enter into MLS, get contract and then submit to Fannie Mae. They usually don't give list price guidance until after they do an appraisal/bpo, and they won't do that until you send an offer…"
"Short Sale, HAFA, Conventional Loan. Short Sale Terms and Conditions. a) Closing costs paid by your or on behalf of the seller, including commission may not exceed 5.5%. c) Real Estate Commissions. 5% of the sales price. Listing and Selling agent…"
"Bill - VA says they cap, but in reality, if the net to the VA is within limits, they have allowed the excess to pay the junior lien. I have not seen a requirement from the VA for the junior to forgive, Kevin Lancaster?"
"So here's the latest. I purchased this 3 family 10+ years ago as a residence, and then refinanced it 4 years ago as an investment. Wells is rejecting my request because they are saying it was purchased as an investment. They…"
"JUNIOR LIEN PAYMENTS____________ Two Questions: _____ (1) Does VA cap what is allowed to a 2nd mortgage? ______ (2) Does VA require the 2nd mortgage to forgive the balance of the loan? ______ Thanks.
"@James -- Yes I have and I am working a short sale right now where the borrower is not late. First I sent in an authorization. After 3 days I called and they sent me the Uniform Borrower Assistance Form to be filled out, asked for Hardship letter…"
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