Comment

Comment by SueEllen Morse on February 21, 2011 at 10:45am

Looking for a HUD 1 for a Short Sale BOA does anyone have one so I can upload and fill in.  I am sure I will be adjusting and wasting time but its a start.

Comment by Michael Schneider on February 21, 2011 at 10:36am

Jim,

I think the required "minimum net proceeds" is often a percentage of the Servicer/Investor appraised value (FMV), ranging from 84% on the low end to 91% on the high end.  My target is to try to be above 88% of FMV.  These are FHA numbers, and I think of the rest of the world generally around the FHA high-end of 88%.

Meaning, after paying everything, now much money does the Investor end up with.

Comment by Jim Hale on February 21, 2011 at 10:24am

I am being told by a negotiator that he is up against a certain "reserve value" that he is responsible to deliver.

That value appears to be driven by investor/MI expectations - certainly not by market data.

Can someone enlighten me as to where such a "reserve value" comes from or how it is computed?

Comment by Wendy Rulnick on February 21, 2011 at 10:19am

Jim - that's pretty good!

Comment by Jim Hale on February 21, 2011 at 10:17am

Wendy -

I have one on which it is 6% of outstanding balance.

Comment by Wendy Rulnick on February 21, 2011 at 10:06am

What are you all seeing BOFA pay non-BOFA juniors recently?

 

Comment by Aida Gonzalez on February 19, 2011 at 4:50am

Catherine, hi, I dont know about modficiations, but just yesterday I heard that BofA is moving forward with them faster now.

Comment by Catherine Gheen on February 18, 2011 at 8:59pm

how about for people trying to get loan modifications?  Does anyone have a good contact in the manager level at b of A?

 

Trying to stop a foreclosure slated for Tuesday morning.

Comment by Catherine Gheen on February 18, 2011 at 8:57pm

is there a titter account for members who work in the President's Office at B of A? I had no idea you can twitter members of Mr. Moynihan's office?

 

Please enlighten me!

Comment by Aida Gonzalez on February 18, 2011 at 10:33am

Kevin Lancaster, I need to say this:  THANKS!!!!!.

Just now, I received a telephone call from BofA, to infomred me that I sent my question to the right person and they will take about the property address issue i have, they suppose to correct it in 48 hours!!!!, if not he gave me his telephone number to call him back by tuesday, (no work monday).  I feel very happy now, because i sent same document since last december to customer services depart, and they told me 'yesterday' (last day I called) that they need a document from the county about the property address, and I spent 1 hr and half calling to different departments yesterday, without any sucess on such letter.

Kevin I really appreciate your help and all of you here in this web page. Thank you again!!!

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