"And I think they should. In my short sales I prefer not to have the buyer. I want the bank to feel confident we have the best offer and if I have the buyer they may think I am hiding other offers. My first commitment is to have the job done for the…"
Donna Paul's Groups
Donna Paul's Discussions
Changes to Short Sale Initiation Process - Bank of America
Started this discussion. Last reply by Bill Travis Mar 13, 2011. 10 Replies 0 Likes
I Just like to share this email from BoA.... Please note the Changes... As Bank of America continues to enhance the short sale process, real estate agents will notice changes when initiating a…Continue
FBI Focusing on Real Estate Brokers- Submit ALL offers
Started this discussion. Last reply by Maria Evans May 21. 101 Replies 0 Likes
The FBI is focusing its attention on real estate brokers to see whether or not the broker submitted all offers to the lender in a short sale transaction. A real estate broker who does not submit…Continue
SHORT SALE APPROVED NOW MY SELLER DOESN'T WANT TO MOVE
Started this discussion. Last reply by Steve Early Feb 9, 2011. 12 Replies 0 Likes
I got the short sale approved within 2 months.. I really didn't think it would be that quick but now my seller doesn't want to move. The bank has given us one month and she feels thats too much of a…Continue
How to get the 1st loan to pay something towards the second loan.
Started this discussion. Last reply by Dean and Sonia Carver Nov 18, 2010. 2 Replies 0 Likes
I just listed this home. It has two outstanding mortgage on it. One with GMAC for $365,000 and the other one on EMC for $80,000.... I got an offer above asking price which is $306,000. I want to make…Continue
Donna Paul's Page
Latest Activity
Maria Evans replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers
Donna Paul replied to Loreena Yeo's discussion How to get started with GMAC in the group GMAC"Hi Loreena
In order to submit the package it has to be uploaded on equator but before you do that just call them and let them know you are ready to submit the package. They will set up the links on equator for you.
All the beat on getting an…"
Donna Paul posted a status"http://ning.it/vugcLW Take a look at Fannie/ Freddie New HARP guidelines"
"How many lienholders want to look at more than one P&S contract anyhow? They can't handle what they have and most I've experienced don't know what to do with a second one. Our MLS forms have specific language to address this,…"
Aaron Ayotte, Short Sale Monkey replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"Ben, you are right....it all seems to come down to control on the lenders part.
After all, a seller can't sign multiple contracts with various buyers anyway, nor can they send the offers up unsigned because the lender won't review…"
"Bologna"
Jeff Payne replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"All you had at that point were offers, you did not have a contract so it really would not matter anyway. Countrywide was not the seller"
William F Griffin Jr replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"In 2006 I had sent multiple offers to CountryWide. The seller was an attorney and refused to sign any offer and instructed me to forward them to the lender which is what was done. The PMI company called and asked if we had any…"
Wilma Hebrank replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"I second that!"
Wilma Hebrank replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"Lender will usually tell me to get the highest & best. They do not want to see the other offers."
Brent Hammonds replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"In AZ, our Short Sale Addendum to the Residential Purchase Contract (AAR Form used by Buyers who submit offers on Short Sales) states the Seller MUST submit all subsequent offers to their lender (lines 13-15). We are able to "omit"…"
Stephanie Grantham replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"We submit all offers to our seller, our seller then determines which offer they would like to present to their lender (usually highest and best offer). The seller then signs the contract so we can submit to lender. You can not have more than one…"
Donna Paul replied to Marcy Moyer's discussion Loan Numbers on docs on Equator in the group Bank of America Short Sales"Thank God you don't have to do that with Equator any more. If you were faxing over the documents ;yes, you would need to put th loan number on every doucments.
I hope it all goes well for you.
"
Jill Slyter replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"The FBI should be looking at all the lenders who do nothing but sit on offers."
Marivel Costanza replied to Donna Paul's discussion FBI Focusing on Real Estate Brokers- Submit ALL offers"
In my experience and after asking several negotiators, most lender's only want to see one offer.
In the short sales that I handle, all offers are presented to the seller. The seller selects the best…"
Profile Information
- First Name
- Donna
- Last Name
- Paul
- State
- New York
- City
- Carle Place
- My Profile
- I work for Keller Williams Realty for three year.Before that I worked for for Remax for two years. My Pasion is to help buyer and Seller achieve their dreams.
Donna Paul's Blog
House Bill Would Force Lenders to Decide on Short Sales in 45 Days .
Posted on October 13, 2010 at 12:11pm 1 Comment 0 Likes
I just like to share with you this article about What the House bill is doing to force Banks to speed up the process of Short Sales. It's a great idea but are they able to pass this so that the process won't take so long for Homeowners and for Buyers. I sure do hope so. Someone has to do something..... http://House Bill Would Force Lenders to Decide on Short Sales in 45…
ContinueComment Wall (2 comments)
- At 9:05pm on June 1, 2010,
Stephen Shafer said… - I have done several deals with Chase vvery succesfully, in general in my opinion they are great. I have found that if you have your short sale document check list fullfilled, starting wiith your 3rd party authorization, it take 2-3 days to upload in their system, then call to confirm it has been received. Generally, I get a negoatiator within 2-4 weeks, a call & or email.
- At 12:34pm on May 21, 2010,
Sherrie Barker said… - In answer to your question about Chase not getting back to you. I had a deal with another bank, and the assistant to the negotiator called in the beginning and gave me the negotiator's phone number and fax, and I could never get the negotiator or his assistant to give me a call back. So I called and left a message on both phones and then fax over what the issue was - "extension of time". Then later in the day I got a fax from them (revised approval letter) with the extension.
Members
CONTACT US
SITE FOUNDERS
MODERATOR
This site is owned and operated by REGrow, LLC
Wendy Rulnick and
Brokers of Record
A Licensed Florida Real Estate Brokerage
628 Grand Canal Dr
Poinciana FL 34759
407-873-2747
Badge
© 2012 Created by Bryant Tutas.
like buttons