I have a client who wants me to take over a short sale that failed. She was offered $25,000 from Chase Bank. LCS is the second. LCS blocked her contribution from Chase, stating it wanted the money.…Continue
"I wonder if the negotiator is confused and trying to pay a relocation incentive, which is generally only available to owner occupants? Is she or he trying to process this as an owner occupied HAFA? I've closed a number of non-owner occupied…"
"Yes. Surprisingly. It worked for a handful of non-delinquent sellers I represented. In fact, just fyi, a HAFA does not require delinquency, and if there is no delinquency, there is nothing negative that is allowed to be placed on a credit report…"
"The problem with shooting yourself in the head, which I must admit has been an option I have briefly considered from time to time during an FHA short sale, is that then you are no longer able to communicate with anybody about anything, and it…"
"@Julie -- I have never had to hold an open house, although they have requested it. They cannot make you hold open houses. Sounds like you got some snippy control freak who had no business making those sorts of demands. The key to their process, far…"
"@amy -- I would not worry too much about homesearch. First, if you're close to what the investor wants, then it will be very rare for a bidder to come close to your buyer's offer because bidders tend to underbid. Second, the bidder will…"
"Yes, like Brian says, you can look up the investor at the links he has provided. You will need the last 4 digits of the main borrower's SS #. Be sure to check twice if it returns negative answer. You can make a typo or put a comma in the wrong…"
"I question whether the second was purchase money @Helena. You say it's an equity bridge line, which is typically taken out to buy a different property, and equity implies it is against the equity in the property which would be hard money. Is…"
Sacramento, East Sacramento, Land Park, Midtown, Elk Grove, Natomas
Author of The Short Sale Savior, published in June 2009. Broker-Associate at Lyon Real Estate in Sacramento. Home Buying Columnist at About.com. 30+ years of experience in real estate. Sacramento Short Sale Agent. DRE #00697006.
I also was not born in 1900, somedays it just feels like it.
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