Someone asked me this question and I'm not sure I know the answer: If a broker needs to short sale his/her property, can they be represented by an agent from their brokerage, with regards to the arms…Continue
"In our region it takes 30 - 45 days to obtain a Certificate of Release, from the date of the initial document submission. Timing is important, because both the short sale approval and the Certificate of Release have expiration dates. You will want…"
"If the seller has relocated and no longer occupies the home, she is not required to go through a modification prior to a short sale request, per HUD PFS guidelines, so that's something to check into. In reality, if the seller doesn't have…"
It is very frustrating to be a buyer in a short sale for exactly the reasons you've stated. The buyer has no control over the process at all. Though it isn't unusual for a short sale to take 6 months, the fact your's has…"
You certainly have a CFPB worthy servicing complaint. BOA is seriously harming your client by not allowing them fair access to foreclosure avoidance. BOA is putting your client at high risk of foreclosure by denying them a…"
"FHA PFS Allowable Fees
HOA fees are allowable fees to be paid from seller's proceeds per HUD Preforeclosure Sale rules. The sellers would also be required to use their $3000 incentive to pay a part of the HOA fees. The remaining amount HUD…"
"How it should work is... process the short sale through the financial instution to get short sale approval. This can be anyone on the third party authorization. It's when it comes time to sell the property and getting the buyer is…"
"This should be okay in my opinion. If they were buying the property, I'd be more concerned about that. Of course like you mentioned disclose and just double check with the servicer. I'd be surprised if it wasn't…"
Someone asked me this question and I'm not sure I know the answer: If a broker needs to short sale his/her property, can they be represented by an agent from their brokerage, with regards to the arms length affidavit? I'm assuming all relationships will be disclosed. What are your thoughts or experiences? Thanks.See More
"We just received an approval letter on a Wells Fargo VA short sale. I quit doing VA short sales years ago after disappointingly high, immovable appraisals foiled a number of VA short sales for me. Thanks to a CFPB complaint we filed due to…"
"An investor client will be closing on one of my FHA short sales at the end of the month. He plans to renovate and resell the property. I don't believe there is a required 90 day holding period like Fannie Mae short sales, but are there…"
"I suggest filing a CFPB complaint for every Nationstar short sale that mucks with the actual value of the property and creates a danger of foreclosure for the seller. Been there, done that, closed it - no auction."
"When I was dealing with a somewhat similar situation, my concern was keeping myself out of the fray. Of course the buyers know the seller has no money, but hey, everyone knows Realtors and their brokers are loaded. When you're representing a…"
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