"HSBC short sale was going smoothly until I received the approval letter today and they cut the commission to 4% even though it was 6% on the HUD. I've done a lot of short sales and have seen 5% but never 4%. Any suggestions???"
"That is correct per FHA guidelines they have to be 31 days late, but here is the kicker. It is obivious that your seller's are trying to do the right thing and salvage their credit by being proactive and it is a pending legitimate…"
I have a client who has a FHA loan with WF. She called to start her short sale and they told her she must be at least 31 days delinquent. The reason they are selling is due to the husbands loss of employment and they must relocate in order to find a job in his line of work. The wife works and theyare managing to make their payment for now.However in order to relocate they must do a short sale as the home is valued much less than what they owe. They were hoping to avoid being in default on top…See More
"I have been working on a short sale with Flagstar since October 09. It took forever to get the them to approve. Then they sent it to Fannie and they came back with a counter $30K over the offer. We settled at $25K over the offer pretty sure the…"
Realtor since 2000, resident of Mohave County since 1975, worked for County Assessor as a valuation specialist and appraiser for 18 years. Work with all types of properties and land. I have done quite a few sucessful short sales with many different mortgage companies. I love a good challenge! LOL
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