Comment

Comment by Ryan Diedrich on January 26, 2010 at 8:40am

Tony, The only thing i could see as an issue is the "arms length transaction" but if it is an ex....it could quite possibly pass as such that. It will make it a lot easier if her/his last names are different.

Maybe play it safe and ask the lender....then no issues will arise after closing if they find out. Good luck!

Comment by Tony Shade on January 26, 2010 at 4:27am

I have a Short Sale listing BOA only one loan. I have a the ex- spouse that is not on the deed and wants to make an offer. Anyone with history good or bad in this situation??

Comment by Darla Maddalone on January 22, 2010 at 10:39am

This should be one of the "easy" ones (if there is such a thing). FNMA, only 1 loan, no MI.

Comment by Jeff Payne on January 22, 2010 at 10:23am

All of mine have getting appraisals or BPOs. I have seen that cyberhomes site and have seen how inaccurate it is, what type of loan is it? FNMA, VA, FHA?

Comment by Darla Maddalone on January 22, 2010 at 10:15am

Kent...yes, I am going to have to go up the ladder a bit to figure this one out.

Makoto...thank you for the link. I went there and put in the address. No wonder they're so far off! Cyberhomes.com gives a value of $176,682 (and a range of $159,013-$203,184) Yikes..that is high. The BofA appraisal last June was $140,000 (which was fairly close at that time). Now BofA is saying the FMV is $147,00. Last appraisal was done end of Dec. Our values are still going down in that neighborhood. Something just isn't adding up.

I'll keep you posted on what happens.

Comment by Makoto Sato on January 22, 2010 at 10:04am

Darla,

I've heard that they use this site:

http://bankofamerica.cyberhomes.com/

See if it's in line with what you're hearing from negotiator. I'd like to know how off everyones numbers are. Keep us posted.

Comment by Kent Dills on January 22, 2010 at 10:04am

The negotiator is B.S.ing you. They pay for the appraisal to get their FMV! Call in to the L.M./Short Sale desk and ask to speak with the negotiator's supervisor or for their contact info.

Comment by Darla Maddalone on January 22, 2010 at 10:00am

Bank of America and FMV - Does anyone know how BofA actually calculates or defines FMV? Our negotiator is giving me a "FMV that the bank wants" but it is not close to what the current "market value" of the property is in this market. An appraisal was done by BofA, but the negotiator insists this has no bearing. What?? Not had this happen before.

Comment by Sherry Wheeler on January 22, 2010 at 2:30am

I'm faxing my offer in today. Everybody say a little prayer!

Comment by Sherry Wheeler on January 18, 2010 at 1:34pm

I agree. Thanks.

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