Chad Gelsinger
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Chad Gelsinger's Page

Latest Activity

Chad Gelsinger commented on Jason Yacoub's group M&T Bank
"Guerry, M&T should NOT be telling anyone an FHA file has to be listed for 90 days.... They should be following the FHA Preforeclosure Sale process which includes Loan Mod review. IF M&T cannot work out a Loan Mod, the next step in the…"
Nov 20
Chad Gelsinger commented on Jason Yacoub's group M&T Bank
"Guerry, Here are some useful contacts for M&T. You need to know if it is a standard mortgage or HELOC. There are different numbers:  M&T Std Mtg: Short Sale Phone: 800-724-1633    Fax 3rd Party: 866-409-4642  …"
Nov 16
Chad Gelsinger commented on Stephanie Lim's group FHA - HUD Short Sales
"Hi Al, FHA Preforeclosure Sales allow 1% of Buyer's FHA Loan Amount for closing cost assistance. A variance can be requested for 1% of Buyer's Conventional Loan amount. We can typically get 1% of Sale Price approved, but the regs are…"
Sep 12
Chad Gelsinger replied to Chris Zubrycki's discussion Short Sale while home is in Probate in the group Bank of America Short Sales
"Hi Chris, IF this is an FHA loan, then YES, the Personal Rep will have to assume the loan to proceed. Some of the other lenders (Wells Fargo and Mr Cooper) are now following this FHA guideline. Bank of America has done this for several years now.…"
Jun 18
Chad Gelsinger commented on Wendy Rulnick's group Ditech ( Formerly Green Tree )
"Kathleen, Ditech has several different fax numbers depending on what you are doing. For 3rd Party Auth: 877-612-2422  For Short Sale Package: 877-612-2422 AND/OR 866-870-9919. You could have a negotiator giving you their personal fax…"
Mar 26
Arisha Griffith left a comment for Chad Gelsinger
"Hi Chad, My seller interprets the language as they can never buy the house back (I consulted an attorney who said this is not exactly the case). In the latest version of the form, under section (b), they would just like to take out the part that…"
Mar 15
Chad Gelsinger commented on Wendy Rulnick's group Wells Fargo Short Sales
"Melanie, Wells Fargo Financial does NOT require an Affidavit. Is it possible you are dealing with a WF Home Mortgage? IF so, use the attached WF Conventional Affidavit v3.0.. Chad.  WF%20Conventional%20Aff%20v3.0.pdf"
Jan 30
Chad Gelsinger joined Laura Marshall's group
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Sep 5, 2017
Chad Gelsinger commented on Stephanie Lim's group FHA - HUD Short Sales
"Jim, the HUD Partial Claim Loans are typically not an issue. Just send a 3rd Party Authorization, with FHA Case number and order a payoff. The Partial Claim will be paid in full from the sale proceeds. For the most part, it is a fairly…"
May 17, 2016
Chad Gelsinger replied to Guerry Clegg's discussion Special LOA? in the group BB&T Short Sales
"Guerry, they will accept a general LOA for 3rd Party Authorization..... Be sure to include the normal details: Name, account number, property address, and your contact info.  Chad"
May 9, 2016
Chad Gelsinger commented on Wendy Rulnick's group Wells Fargo Short Sales
"Kevin, typically the only times we can get the 84% approved is if there is an ATP. If there is an Active Foreclosure prior to the ATP, the minimum net proceeds needs to be 88%. Did you have a generic ATP or was it buyer specific? Who…"
May 4, 2016
Celeste ODea left a comment for Chad Gelsinger
"Thank you so much! I really appreciate it. "
Apr 7, 2016
Chad Gelsinger commented on Wendy Rulnick's group Wells Fargo Short Sales
"Dean, if the BPO and Appraisal are more than 10% apart, WF will have to go to HUD for them to determine the acceptable value. With WF, typically the acceptable sale price will be the appraised value. Sounds like WF can't give you the appraised…"
Apr 7, 2016
Chad Gelsinger commented on Jeff Payne's group US Bank
"I don't know if US Bank will check the validity of the EIN... Whichever one you use, just designate the name associated with the EIN.... They will confirm it as a "password" when you call. If you can't provide the correct number,…"
Apr 7, 2016
Chad Gelsinger commented on Jeff Payne's group US Bank
"Celeste, US Bank will take a generic 3rd Party Authorization, but will require the last 4 digits of your EIN MUST be typed on the authorization. IF they cannot easily see the EIN, they will refuse your 3rd Party. US Bank will ask for the EIN as…"
Apr 7, 2016
Chad Gelsinger replied to Frank J Helderle's discussion Active Military Denied Defiiency Release in the group Wells Fargo Short Sales
"Frank, VA does not include deficiency waiver language in their approval letters. They typically will not pursue the borrower, but do allow for the option if they find fraud or misrepresentation in the file. In all of the VA Approvals (somewhere…"
Dec 9, 2015

Profile Information

First Name
Chad
Last Name
Gelsinger
Are you a...
3rd Party Negotiator
State
PA
City
Lemoyne
My Profile
Our title company, Complete Closing Services, has been helping Realtors navigate the Short Sale process for years now. We have created MYclosing to help Realtors and Homeowners with the ever changing Short Sale industry. We have built our business on Honesty, Integrity, and Dedication to our clients and will continue to do so well into the future.

Comment Wall (2 comments)

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At 9:23am on March 15, 2018, Arisha Griffith said…

Hi Chad,

My seller interprets the language as they can never buy the house back (I consulted an attorney who said this is not exactly the case). In the latest version of the form, under section (b), they would just like to take out the part that says they can never obtain title of the mortgaged premises again. I spoke to Wells and they will not accept a redacted form in any case. Thank you for your response. 

At 6:06pm on April 7, 2016, Celeste ODea said…

Thank you so much! I really appreciate it. 

 
 
 

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