Replies to This Discussion

Permalink Reply by Heather Robins on March 9, 2012 at 12:00pm

Interesting, I have an auction on the 13 of March and my Seller cancelled the fully approved short sale three weeks ago because she wanted to reinstate, when she realized she could not do that, BofA also encouraged her to initiate the ss again and they would send a request for postponement.  We will see if it happens, here is to fingers crossed, normally I would never initiate three weeks within the sale date

Permalink Reply by hay.molly on March 9, 2012 at 12:03pm

See that is what I was thinking but you never know..there maybe that 1 chance it works out.  We would only have 9 days to find a buyer and we are relying on bank of america to postpone the ss which who knows if they would!

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on March 9, 2012 at 12:39pm

Answer = YES,

 

I think BofA is finally going to pull the band-aid off fast rather than waiting - see this Front Page article from today's LA Times;

 

http://www.latimes.com/business/money/la-fi-mo-bank-of-america-mort...

 

 

Permalink Reply by Richard "RJ" Kas on March 9, 2012 at 12:48pm

Yes. Do it... the short sale business is a risk in itself, so nothing gained, nothing ventured.  If not, refer it to an agent that is willing to take the risk.  If you are in California, I would be happy to take the referral, but I would definitely recommend giving it a shot.  Good luck.

Sincerely, Richard "RJ" Kas        (SFR, SRES) "Representing the finest properties from Los Angeles worldwide" KAS Properties - Coldwell Banker Previews International - Beverly Hills South 166 N. Canon Dr, Beverly Hills, CA 90210 310.859-5334 office - 310.488.9826 mobile - 310-273-0690  fax ATT: RJ [email protected] -  www.RJforLA.com -  DRE: 01352771 Sellers            Buyers            Investors            Leasing            Consulting

Permalink Reply by hay.molly on March 9, 2012 at 1:04pm

Thanks! I am doing it!!

Permalink Reply by Uilani De Motta on March 9, 2012 at 3:03pm

YES do it! BofA is postponing left and right...initiate in EQ and when they see it as a short sale they will postpone....as long as it is not a FHA or government loan.

Permalink Reply by Makoto Sato on March 12, 2012 at 8:19pm

I agree with Richard. I would do it. I've taken short sales with short foreclosure timelines and have been able to, due to my sphere, find a buyer willing to put an offer in. Postponed the auction at the last minute, and was able to postpone the rescheduled auction 3 more times before finally closing with a different buyer.

Permalink Reply by Ron Margolis, RA on March 13, 2012 at 3:25am

I agree with the consensus. I have had limited times when the negotiator tells me that the investor won't look at a short sale if its within "3 weeks of the court sale date". But, you won't know unless you attempt the sale. So good luck, and hopefully you'll be successful