Camelia Vera, Arcadia, CA
  • Female
  • Arcadia, CA
  • United States
  • CA
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Calif 80/20 Heloc Questions

Started this discussion. Last reply by Camelia Vera, Arcadia, CA Feb 23, 2011. 3 Replies

I have a client who has an 80/20 loan. Both are with One West Bank. What does this mean in terms of the second? Will One West Bank treat them separately or will they treat it as a package?If these…Continue

Tags: Bank, West, One, Heloc

 

Camelia Vera, Arcadia, CA's Page

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Camelia Vera, Arcadia, CA joined Wendy Rulnick's group
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Chase

Working with all divisions of Chase. Share tips, stories, reference info!This group is for information, tips and solutions for Chase short sales.See More
Sep 25, 2013
Camelia Vera, Arcadia, CA replied to Tom Braunagel's discussion Should we suggest to our clients to be late in their mortgage payment for a successful short sale?
"I think it is easier if your Clients come up to that conclusion. You can explain how hard it will be for them to rent once they have bad credit and that they should consider renting while they can. I'd also explain it is easier to sell an empty…"
Aug 20, 2012
Camelia Vera, Arcadia, CA replied to Mike Rosania's discussion Uneven Commission Splits
"Good comments Eric. So I'm curious as to how you are going to prevent this in the future. What will you tell your clients when you won't submit an offer for the property they want?"
Mar 3, 2012
Camelia Vera, Arcadia, CA replied to Kieran Jackson's discussion Timeframe of a Los Angeles county short sale...
"The time frame to get back to you depends on the bank and their negotiator. It also depends on the completeness of your file. After that it depends on the buyer and their closing period. If an NOD has been filed, it shortens the time you have to…"
Sep 28, 2011
Camelia Vera, Arcadia, CA posted a blog post

Successful IndyMac Short Sale!

Hi Everyone,I just want to tell everyone about my success with an IndyMac shortsale. The property was in good condition. There were two liens on the property (same bank). I had excellent Sellers because they cooperated in everyway they were asked to. IndyMac was very responsive with responses within 10 days. Midway through, the contact negotiator changed and so then everything had to be resubmitted because it had been some time since the first submission. I used their shortsale package from…See More
Sep 28, 2011
Camelia Vera, Arcadia, CA replied to Camelia Vera, Arcadia, CA's discussion Calif 80/20 Heloc Questions
"Good points! Never imagined they could be with another secondary market investor. And because they were done on the same day, I'm assuming it's PML. So yes, the new law makes this better for the client. Thank you so much Wendy…"
Feb 23, 2011
Kimberley Kelly replied to Camelia Vera, Arcadia, CA's discussion Calif 80/20 Heloc Questions
"If it's PML loan on the 2nd, no deficiency pursuit as of 1/1 in California.  1099 for sure, but no pursuit.  The second is probably with another investor as Wendy says, so hunt them down as they'll have to agree to short sale.."
Feb 23, 2011
Wendy Rulnick replied to Camelia Vera, Arcadia, CA's discussion Calif 80/20 Heloc Questions
"Camelia - Each One West Loan may have a different secondary market investor, so they they or may not be treated separately.  You'll have to get a California agent to answer your second question."
Feb 22, 2011
Camelia Vera, Arcadia, CA posted a discussion

Calif 80/20 Heloc Questions

I have a client who has an 80/20 loan. Both are with One West Bank. What does this mean in terms of the second? Will One West Bank treat them separately or will they treat it as a package?If these both were taken out at the same time (ie purchase money loans) can One West come after my client after the second is wiped out completely?Thanks, I appreciate any guidance. Camelia See More
Feb 19, 2011
Camelia Vera, Arcadia, CA replied to Phil Johnson's discussion what are the chances of the VA forgiving the deficencey in a short sale in California? in the group VA Compromise Sales
"I would immediately call the VA hotline which for California is the Phoenix Regional Loan Center 1-888-869-0194 to ask this question. You or your Realtor should do this. When you took out a VA loan, you paid a VA funding fee which is the equivalent…"
Nov 6, 2010
Camelia Vera, Arcadia, CA replied to Sean Wilder's discussion VA and buyers closing cost credits in the group VA Compromise Sales
"Seller concessions are limited to 4% of the Sales price."
Nov 6, 2010
Camelia Vera, Arcadia, CA is now a member of Short Sale Superstars
Nov 6, 2010
Camelia Vera, Arcadia, CA joined Wendy Rulnick's group
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VA Compromise Sales

Group devoted to discussions for Veterans Administration short sales, called Offers in Compromise, or VA Compromise Sales.See More
Nov 6, 2010

Profile Information

First Name
Camelia
Last Name
Vera
Are you a...
Agent
State
CA
City
Arcadia
My Profile
Coldwell Banker George Realty Agent, Bilingual (Spanish), Short Sale Certification. Hardworking and Positive. Former Accountant, so I have an eye for details. Graduate of the University of Southern California. Serving the San Gabriel Valley. I love what I do!
Camelia.Vera@ColdwellBanker.com 626-484-4500

Camelia Vera, Arcadia, CA's Blog

Successful IndyMac Short Sale!

Posted on September 28, 2011 at 4:02pm 0 Comments

Hi Everyone,

I just want to tell everyone about my success with an IndyMac shortsale. The property was in good condition. There were two liens on the property (same bank). I had excellent Sellers because they cooperated in everyway they were asked to. IndyMac was very responsive with responses within 10 days. Midway through, the contact negotiator changed and so then everything had to be resubmitted because it had been some time since the first submission. I used their shortsale…

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