First time with PNC as 2nd lien. I have tried googling to find any good discussions on this but most are at least a year or two old and not ending well. They are requesting a high amount to allow us…Continue
I had a cooperative short sale with one of BOA's short sale departments in January 2013 and they offered $7000 for seller relocation incentive. For some reason (beyond me) the sellers decided to hold…Continue
I just had this lovely cooperative short sale all set up with a cash buyer. Sent him the Bank of American buyer's disclosure when lo and behold buyer is an executive with Bank of America. What is the…Continue
I am on hold waiting for REDC to explain to me what "marketing period" is. She claims it is the amount of time allowed by them to handle a short sale. I say it is the amount of time an active listing is allowed on the market before the cooperative short sale expires. IF a purchase contract is not received within the marketing period of 90 or 120 days the coop short sale is declined. Otherwise the coop short sale must conclude to its end.
A purchase offer was signed two weeks after…Continue
I have had a cooperative short sale since November. It was going smoothly except for the poor communication, We had a buyer within a week of listing. We accepted all their terms even though they put the blame on others of why the file was losing the race against the tortoise. Blah..blah..blah..Fannie Mae...blah..blah..blah..This month I get "3-4 days and sending approval" with the usual nonsense attached to it.
Then BLAME. Quote:Continue