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Comment by Kynse L. Agles on April 27, 2010 at 9:51pm

CLOSED TODAY! 144 days from listing to closing, Fifth Third. This one was a ton of work! Thank goodness I had a wonderful negotiator to help through this process. Sale price $525K, Fifth Third is paying the HOA lien (almost $5K) and a total of approx $47,393 in closing costs. I was sadly informed the commission was cut to 4.5% and unless the buyer or seller pay a higher commission rate they will not pay more., I was hoping for 5%. I would not mind if I had both sides but there are 2 firms in this transaction. The seller has to bring $5K cash to closing plus the back owed taxes in the amount of $8,935.. I learned today that Fifth Third will not pay back owed taxes FYI. So long story short after 5 long months of tough negotiations I think I met my match, the good news is it will be closing on Tuesday. Fifth third is going to reserve the right to pursue a deficiency judgement, but no promissory not at closing, they originally wanted a $150K promissory note. Total loss to Fifth Third $128,469.00.

Comment by Keena Frye on February 2, 2010 at 12:50pm

I had a closing with B of A 1/28/10. This one was ruff, there was a first and second. The second, though saying it was approved, wouldn't send me the approval letter and my approval from B of A was set to expire on Jan 15. I had to get an extension from B of A along with nonstop calling to GMAC, the 2nd, and sending messages to upper mgmt. GMAC finally sent my approval 1/22/2010, which originally gave an approval through 1/25/10 "Seriously!!" I had to call nonstop again to get another approval, I received approval through 1/29/10. Finally everything is going good and we are ready to close....uhm no wait my buyer walked 1/25/10! "Are you kidding me??" Thankfully I had a back up buyer and was able to slide her in at the last minute and got an approval for the new buyer the next day from B of A "Awesome!"(The 2nd didn't care who the buyer was) and we closed 10am 1/28/10!! Whew!

Comment by Kynse L. Agles on January 14, 2010 at 10:20am

TWO SHORT SALE CLOSINGS TODAY!!!! One with Flagstar, Owed $575,000 Falgstar accepted $315,000.00! Just closed this morning. Also got my messy deal done, AHMSI was the first $397K owed accepted $108,000 Wilshire on the second $88,000 owed accepted $7,000 and both gave full releases! Also closed this morning!

Comment by Sharon Senger on January 14, 2010 at 9:22am

Hi Peggy,
Congratulations! I am sure your client appreciates all your hard work.

Comment by Peggy James on January 13, 2010 at 9:39pm

Another Short Sale heading to closing tomorrow in Lake Ridge, VA! Submitted to Midland Mortgage in mid Sept 09. Lost first buyer right before Christmas, didn't submit new contract until we had Short Sale Approval. VA Compromise Short Sale Request was granted. Veteran owed $287,000, Midland net $161,000. No promissory note, no judgement. Note:Veteran looses entitlement for short fall balance. Unless paid in full.

Comment by Kynse L. Agles on January 6, 2010 at 11:39am

Another Short Sale closed today! Wells Fargo is the first. Owed $140K on the first WF netted $53,814.00 HSBC is the junior, $50K owed and they accepted $3500. Full release of the mortgage, note and all liens. Purchase price of $62,000. Welcome to 2010!

Comment by Kynse L. Agles on December 20, 2009 at 3:44pm

Just received a Flagstar approval! Has to close by the 15th of January! This one took awhile but well worth the work. $575,000 owed on the loan, $315,000 accepted no promissory note and no judgement, seller has to bring $5,000 to closing but that is worth it!

Comment by Fiona Barone on November 25, 2009 at 5:56pm

I want to give a special THANKS to Citibank for allowing us to do a non delinquent shortsale, for not reporting the loss of $110k to the credit bureau, for giving us a satisfied in full and permission for my client to purchase another home at a way lower and affordable mortgage. I think we are the first to do this in NJ. So I hope everyone at Citibank has a wonderful Thankgiving with their families and know that what you have done was appreciated by another family XOXOXO to Citi!!!

Comment by Sharon Senger on November 13, 2009 at 7:15pm

Kathy,
Congratulations and it just goes to show patience is a virtual :)
Have a wonderful weekend
Sharon

Comment by Kathy Batterton on November 13, 2009 at 3:28pm

Finally closed my Saxon (first)/BofA ( second) short sale from H@#LL today! 8 months from contract, same buyer, about 8 appraisals, several BPO's, An acre of trees killed in paperwork, and all that with original approval from Saxon 3 weeks after contract! Unbelievable what Bofa put us all through. I know this is starting to sound like a whine but really, WAHOO!!!!! Everyone kept their cool and we finally prevailed. Don't give up! As frustrating as it can be, don't give up!

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