Comment

Comment by Sheila Vardakis on September 5, 2012 at 9:36am

I wouldn't send electronic for any short sale contracts.  the banks want originals.

Comment by Steven Angelil on September 5, 2012 at 9:33am

I'd be very interested to know the answer also Brenda.  I'm getting ready to go over a ton of docs w/ a seller because they were e-signed and now the servicer won't accept them.

Comment by Brenda L Wood on September 5, 2012 at 9:30am

Quick question - has anyone had GMAC accept electronic signatures for conventional loan/working through Equator?  Thanks!

Comment by Laura Marshall on August 16, 2012 at 12:52pm

@ Anna -  Listing Agreement: “Seller may cancel this agreement prior to the ending date of the listing period without advance notice to the broker, and without payment of a commission or any other consideration, if the property is conveyed to the mortgage insurer or the mortgage holder.” • Sales Contract: “The seller's obligation to perform on this contact is subject to the rights of the mortgage insurer (if any) and the mortgage holder relating to the conveyance of the property.”

Comment by Anna "Banana" Kruchten on August 16, 2012 at 10:04am

I need the purchase agreement clause....can you help out?

Comment by Paul Francis - Vegas Short Sales on August 13, 2012 at 11:39am

I never thought I'd have to ask this for a GMAC short sale, but a situation has come up where I need to get in touch with somebody as high up in the ranks as possible in the short sale department.

Anybody have a good contact that can make things happen? I've never had a issue with a GMAC short sale in over four years until now.

Thanks!

Comment by Deidre St. Romain on August 7, 2012 at 11:30am

Thanks Joe...I think.  boo hoo. Guess I'll just have to be my normal obnoxious self and bug the cra* out of them.  Think I'll get the homeowner involved too!

 

Comment by joe beauchamp on August 7, 2012 at 10:57am

Deidre, no guidelines - MI's are generally cowboys and can be obnoxious. They can be OK or belligerently obstructive. HAFA has no say. Talk about your 3rd party, legally, they should be put in their place - they were paid by the homeowner to protect the bank from the homeowner regardless of what the homeowner wanted and now often stand in the way of the investor maximizing his return and the homeowner moving on with his life.

Comment by Deidre St. Romain on August 7, 2012 at 6:17am

Does anyone out there know what, if any, guidelines there are for a MI to respond to request for ALT-RASS HAFA sale?  i.e., any rules as far as how long I could expect the MI to respond after the request for their approval.  Any help would be greatly appreciated as I cannot find anything in the HAFA guidelines.

Comment by Dean E Eshelman, CPA, CDPE, IRES on July 17, 2012 at 6:19pm

@Loreena Yeo Just had this discussion today at our Housing Task Force Meeting and representatives of Chase. Actually this can be a good thing as the homeowner can stay in the home if they don't mind being hounded by collector. They are a collection agency subject to FDCPA (Federal Debt Collection Practices Act). The homeowner can write a letter saying all communications must be in writing and not to contact places of employment. It can allow the homeowner a way to work out a payment plan on a reduced mortgage amount. However, they can seek a judgement and garnish wages. I am told that it is easier to do a short sale as they are not so concerned about the value of the home as they are the percentage of the purchase price for the debt.

• ‹ Previous
• 1
• …
• 5
• 6
• 7
• 8
• 9
• …
• 29
• Next ›
• Page