Brian Brumpton
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Bank of America FHA Short Sale Delays

Started this discussion. Last reply by TOP END Properties Aug 23, 2012. 5 Replies

I've had an FHA short sale open with an offer since February. We were issued the approval to participate 05/18/2012. The offer matched up with the numbers on the ATP and meets the minimum required…Continue

Tags: Sale, HUD, Seller, Incentive, Short

FHA Preforeclosure Sales Program - What are the maxiumum allowable buyer closing cost...

Started this discussion. Last reply by Kevin - Greenville, SC Nov 24, 2012. 27 Replies

What are the maximum allowable buyer closing cost a seller can pay when the buyer is obtaining a new FHA insured loan?The default answer tends to be 3%, however, you have to pay attention last part. …Continue

Tags: Guidelines, HUD, Sale, Short, Preforeclosure

Investor Doesn't Allow Short Sales

Started this discussion. Last reply by Ban KKiller Apr 28, 2012. 6 Replies

I have/had a short sale open with Nationstar and the negotiator has stated that the investor (when I asked who the investor was he said it's investor code 399, which I'm assuming means the pooling…Continue

 

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LBPS/Seterus using 3rd party group to negotiate short sales and it only cost us 1%!

Posted on November 11, 2011 at 2:59pm 6 Comments

How clever some of these companies that keep popping up claiming to be our good buddies and stick with us throughout the transaction.

Something didn't sound right when I started questioning the guy. Sure he said he was with the National Group(s) or something. When I started to ask how they got paid he let me know that they get a 1% fee and that commissions are reduced to 5%. When I pressed about how they intend to get around Fannie Mae's guidelines that they're not allowed to reduce…

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How low is too low to accept a short sale listing?

Posted on November 10, 2009 at 4:32pm 8 Comments

I recently canceled three short sale listings after a client insisted that I pay to do some advertising that is not part of my marketing plan. We decided to go our separate ways after I broke down the numbers for them and showed them just how much money I was going to make off the listing if I were able to negotiate the short sale.



I was actually losing money after paying my admin staff. It started me thinking, how low is too low? At what point do you say no to a short sale… Continue

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