Comment

Comment by alisa hagner on February 4, 2010 at 5:26am

Unbelievably, they just approved a short sale in 15 days from file submission to approval letter.

Not so unbelievable is that they wish to cut our commission to 5% .

We sent them a letter about how that is contract interference and a RESPA violation. Now after talking to "legal", they are willing to give us 6%, and they will tack on a 2% admin fee.

Comment by Pacita C Dimacali on January 20, 2010 at 7:34pm

I have AHMS on the first, HSBC on the second. HSBC refused to accept AHMS' payoff offer of 10% on what is owed on HSBC.

Went back to AHMS -- said the buyer is walking, propertyvalue is dropping. Do they want a foreclosure, or can they give more to HSBC?

AHMS agreed to offer 15%...so now it's back on HSBC's court to see if they'll take it.

Also asking AHMS if they will agree to have buyer help with the payoff is HSBC continues to balk. AHMS will consider it.

Maybe that's progress?

Comment by Maya Thomas on January 20, 2010 at 4:58pm

The contract before that was approved at $400,000 but the buyer walked after waiting 3 months. When we turned in a new contract at $400,000 they countered at $416,000. My old approval letter still had the ink drying. AHMSI fought about not want to give ANY money to the 2nd. What?!? AHMSI finally agreed to take $400,000 and to give the 2nd $10,000. And of course they cut the commission.

Comment by Maya Thomas on January 20, 2010 at 4:46pm

AHMSI is in the top 5 of horrible to deal with. Uggggh! The last negotiator said the most unbelievable things about my seller and screamed at me that she was taking them for a ride. My seller had a serious hardship. There was no professionalism and certainly no compassion. And they changed the numbers a few times too. They asked for a ridiculous percentage to start with and finally came around, but not without a month long war. I'm keeping in mind who is naughty and who is nice!

Comment by DanaVoelzke on January 20, 2010 at 4:40pm

We closed today on a short sale with an AHMSI first. There was also a 2nd. They did follow the 10% or less on the 2nd rule. The negotiator was responsive, though it did take some persistence. There was a 1% negotiator fee which seems to be their standard practice based on others comments.

Comment by Pacita C Dimacali on January 14, 2010 at 2:01pm

I saw on one blog these names/number of AHMS negotiators. Anyone have any luck with them?
Jeanne Drake

PH: 1-949-784-6011
FAX: 1-866-642-4196


Jim Davis

PH: 1-904-996-9696
FAX: 1-904-996-1727

Comment by Pacita C Dimacali on January 12, 2010 at 4:55pm

Haven't done a short sale with American Home Mortgage yet.

Have a short sale listing with 2 lenders: American for the first, and HSBC for the second. Received multiple offers. Accepted offer that at first glance seemed enough to pay off full loan for the first, and some left over for second lien holder and other expenses.

But American won't give HSBC more than 10% of what is owed or $9K. HSBC wants $39K.

Buyer is walking.....another buyer wants to come in, but at lower offer --- not enough to pay off first, but buyer wants to contribute some $$ to pay off second.

Was told that American won't accept or approve short sale.

Has anyone successfully closed on a short sale with American --- with one or two loans? What was your experience?

Is ths not going to happen, and should we just let it foreclose although offer is HIGHER than current market value (even higher than what American's appraisal said it's worth?

Comment by Lori Young on January 7, 2010 at 11:24am

You may want to see that in writing as the seller's agent may have a third party asking for this and not the bank. I know of some listing agents that are putting $3500 in the MLS for the buyers to pay. I have had five files with AHMSI and never saw a 1% fee. Last I knew AHMSI had eight or nine reps who worked off the last digit of the loan number or last two numbers.

Comment by Stephen B. McWilliam on December 26, 2009 at 6:35am

Yes, AHMSI may require the 1% fee payable to themselves and paid by the Buyer. We have also had various MI companies require upfront payments or notes from the Seller for their participation. FYI, FHA prohibits the Buyer from paying any Short Sale related fees.

Comment by Pam Graham on October 15, 2009 at 12:01am

No,I'm showing a listing today and the listing agent told me that's what they asked for on the last approval. I closed one in February with them and they never asked for one. I have to say I'm not surprised because they also wanted to charge $500 to a homeowner for doing a loan modification.

• ‹ Previous
• 1
• …
• 12
• 13
• 14
• 15
• Next ›
• Page