Comment

Comment by Lisa Helweg on March 4, 2011 at 4:23am

@ Judy - Woo Hoo!!  So it can be done!  Congrats to you as well Judy!  Does this mean that the winds are beginning to shift with LBPS?

Comment by Wendy Rulnick on March 4, 2011 at 3:16am

LOL thanks, Lisa!

Comment by Lisa Helweg on March 4, 2011 at 3:14am

@ Wendy - I don't believe it!  LBPS actually issues approvals?!?! :)  Just joking, of course.  Congratulations on achieving the seemingly impossible.  You must be a Short Sale SuperStar!

Comment by Wendy Rulnick on March 3, 2011 at 2:08pm

Got LBPS approval today!

 

Comment by Isaac Ramirez on February 22, 2011 at 2:04pm

Thank you so much for the info wish me luck

Comment by The Negotiator on February 22, 2011 at 1:57pm

Ask them if they will take an extra 5k in proceeds. Ask what will it take for there to not be a prom note.

If they are forgiving the entire balance other than the 20k, then that's better than it going to foreclosure where the entire deficiency is left to "pay." Just because a prom note is signed doesn't mean they have to pay. The note on the home loan is nothing more than a prom note whereas the mortgage ties the note to the house as collateral.

 

Once you get the facts of the exact obligation then explain the note as a good thing (if its the only remaining balance) because the balance would be much higher if the house went to foreclosure.

Comment by Isaac Ramirez on February 22, 2011 at 12:30pm

I have a really big issue with IBM LBPS my client was previously with Chase bank and was given the option to partcipate in the HAFA program, now that the account has been transfered to IBM LBPS they claim that there is a MI hold and the file and that the mortgage insurance company is requesting a $20,000 promisary note my clients have already been kicked and beaten with these economic times and seriously do not have the means to make any promisary payments... is there any way to get around this issue?

Comment by Laura Marshall on February 18, 2011 at 4:42am

Making contact w/ a live person. I have used the format above in the past and it worked great. This morning I called, and there is no longer an option 5 nor an option to enter the party extension. Oh well....back on hold again :)

Comment by The Negotiator on February 14, 2011 at 7:00am

Luis, was your lesson learned? Not all lenders participate with the pathetic HAFA program. Frankly, you don't want your homeowner doing a HAFA, anyways! When you get into a short sale, know what the facts are and ask your questions before 5 months go by and realize the problem.

Comment by Luis Ortega on February 14, 2011 at 6:34am

Today I spoke with a negotiator about a HAFA file there is with them since august 2010, and she told me they DON'T  have the HAFA program in place yet, and she advice me to move the file to a regular short sale!!!!

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