Hi, I just got my first counter through Equator and I have a question I'm hoping someone can help me with. It asks us to enter the 2nd lienholder upb payoff. Can someone tell me what that means?
Thanks in advance for your help!
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OK, I process short sales all day, lately, all of my, except for 2nds, is in equator. I know of no place in the equator counter to put the unpaid balance, just what is offered for the 2nd lien.
I assume this was a separate question from the negotiator - I'm curious who he is that he threw upb at you, but on the other hand, if he really said upb payoff, never mind, he doesn't know how to ask a simple question..?
If he used real english and you simply compressed it, well, I would like to know who he is - it is very unusual to run into a negotiator at BofA who has a clue of accounting terms -- OK, of accounting in general, for most of them. ;-)
I agree with Joe, I have not seen that on equator either. Is the second a BofA loan or with another lender? Why would they care what the balance is on the second, they should only be concerned about what the second wants as a short payoff.
joe beauchamp said:OK, I process short sales all day, lately, all of my, except for 2nds, is in equator. I know of no place in the equator counter to put the unpaid balance, just what is offered for the 2nd lien.
I assume this was a separate question from the negotiator - I'm curious who he is that he threw upb at you, but on the other hand, if he really said upb payoff, never mind, he doesn't know how to ask a simple question..?
If he used real english and you simply compressed it, well, I would like to know who he is - it is very unusual to run into a negotiator at BofA who has a clue of accounting terms -- OK, of accounting in general, for most of them. ;-)
I've been asked a few times for the balance on the 2nd - For Fannie Mae, they give 8% of balance.
You do bring up a point, however, when both loans are with BofA, the negotiator is supposed to handle that. I had one truly below spec subhuman brain who was telling me that the BofA 2nd wasn't going to accept the short sale unless seller paid $X.
So, think about that. The BofA negotiator is willing to force the 1st (main investor) into foreclosure because she wouldn't work out with her own 2nd a payoff that would suit it??? Can she be that incompetent? Or is this another one of their lying games to squeeze more money. Well, she did several other very stupid things, so it would be unfair for me to ask your opinion without balancing the weights between BofA people taught to lie to get as much $ as possible and BofA people unable to make out the fries symbol on the button...
(Hmmm... I guess, in retrospect, it is safe to say that between incompetence and negotiating in bad faith greed, BofA is really "fair and balanced". Hadn't thought of that before - OK, time for another beer - this BofA drinking game is really getting to me... HA!)
Jeff Payne said:I agree with Joe, I have not seen that on equator either. Is the second a BofA loan or with another lender? Why would they care what the balance is on the second, they should only be concerned about what the second wants as a short payoff.
joe beauchamp said:OK, I process short sales all day, lately, all of my, except for 2nds, is in equator. I know of no place in the equator counter to put the unpaid balance, just what is offered for the 2nd lien.
I assume this was a separate question from the negotiator - I'm curious who he is that he threw upb at you, but on the other hand, if he really said upb payoff, never mind, he doesn't know how to ask a simple question..?
If he used real english and you simply compressed it, well, I would like to know who he is - it is very unusual to run into a negotiator at BofA who has a clue of accounting terms -- OK, of accounting in general, for most of them. ;-)
joe beauchamp said:I've been asked a few times for the balance on the 2nd - For Fannie Mae, they give 8% of balance.
You do bring up a point, however, when both loans are with BofA, the negotiator is supposed to handle that. I had one truly below spec subhuman brain who was telling me that the BofA 2nd wasn't going to accept the short sale unless seller paid $X.
So, think about that. The BofA negotiator is willing to force the 1st (main investor) into foreclosure because she wouldn't work out with her own 2nd a payoff that would suit it??? Can she be that incompetent? Or is this another one of their lying games to squeeze more money. Well, she did several other very stupid things, so it would be unfair for me to ask your opinion without balancing the weights between BofA people taught to lie to get as much $ as possible and BofA people unable to make out the fries symbol on the button...
(Hmmm... I guess, in retrospect, it is safe to say that between incompetence and negotiating in bad faith greed, BofA is really "fair and balanced". Hadn't thought of that before - OK, time for another beer - this BofA drinking game is really getting to me... HA!)
Jeff Payne said:I agree with Joe, I have not seen that on equator either. Is the second a BofA loan or with another lender? Why would they care what the balance is on the second, they should only be concerned about what the second wants as a short payoff.
joe beauchamp said:OK, I process short sales all day, lately, all of my, except for 2nds, is in equator. I know of no place in the equator counter to put the unpaid balance, just what is offered for the 2nd lien.
I assume this was a separate question from the negotiator - I'm curious who he is that he threw upb at you, but on the other hand, if he really said upb payoff, never mind, he doesn't know how to ask a simple question..?
If he used real english and you simply compressed it, well, I would like to know who he is - it is very unusual to run into a negotiator at BofA who has a clue of accounting terms -- OK, of accounting in general, for most of them. ;-)
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