Emily S. Knell
  • Female
  • Seal Beach, CA
  • United States
  • CA
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Any experiences with Union Bank and short sales?

Started Apr 17, 2010 0 Replies

Please respond ONLY if you've dealt with Union Bank for short sales within the past 6mos.  I'd like to hear anyone, even if they haven't personally worked a Union Bank short sale, but may know a…Continue

Bank of America short sale where the owner is Current?

Started this discussion. Last reply by Emily S. Knell Mar 25, 2010. 8 Replies

I'd like to hear input from those of you who may be working on a BofA short sale where the owner is current, but maybe has missed a tax payment, if the owner is not a wealthy person, are you getting…Continue

Tags: America, of, Bank

 

Emily S. Knell's Page

Latest Activity

Emily S. Knell replied to Jennifer's discussion Equator timeout? in the group Equator
"You need to call up the listing agent right now & say exactly this:  "I'm not going to order or pay for an appraisal or otherwise have my lender start processing my loan without receiving the written short sale approval letter…"
Dec 29, 2011
Emily S. Knell replied to Jan Thurman's discussion Access to Equator in the group Equator
"Equator will ask for your real estate license number.   You better stop any negotiations you're currently involved in & get a real estate license or you're going to open yourself up to a lawsuit."
Dec 31, 2010
Emily S. Knell replied to Gary Scott's discussion 1st and 2nd Lien Release Amounts in the group Equator
"Just put in whatever equals 10% of the loan balance for payoff to the 2nd lien holder & leave the payoff to the 1st lien blank, unless you have a HUD completed, then you can put their payoff on that line."
Nov 22, 2010
Emily S. Knell replied to Karen Mathers's discussion HELP . . . 2nd is making us change the commission! in the group Help Me!
"Do NOT reduce your commission, negotiate with BofA to pay the $5k, I don't know what your purchase price is but BofA should be paying off the 2nd at 10% of what is currently owed. Redo your HUD & CC the SVP through Equator. Do NOT reduce…"
Aug 7, 2010
Emily S. Knell replied to Susan Williams's discussion Disputing FHA PFS appraisal in the group Help Me!
"The best approach is to have the buyer use BofA to get their loan done. if they don't want to use BofA to actually get funding, that's fine, but they should cross qual & ORDER AN APPRAISAL OF THEIR OWN that is ORDERED by the BofA loan…"
Aug 7, 2010
Emily S. Knell replied to Roger waldersen's discussion BAC Short Sale in Baltimore in the group Help Me!
"Yes, you could go that route, accept it, get it assigned to a closer (BAC & Equator will do this automatically once you accept their counter) Then your due diligence period would start, order your appraisal IMMEDIATELY,,if you're confident…"
Aug 1, 2010
Emily S. Knell replied to MD's discussion Can you submit multiple offers for a property into Equator? in the group Equator
"If you're still 100% on board to buy this house, the listing agent needs to submit ONLY your offer into Equator. The Equator system is still a total PITA, so it won't necessarily go faster just because it's in Equator. Your listing…"
Jul 25, 2010
Emily S. Knell replied to MD's discussion Can you submit multiple offers for a property into Equator? in the group Equator
"Really? So in Virginia, when you're listing a sellers' home, for say, $500K & you know that the seller would take $400K, because you don't have fiduciary duty to the seller you can go right ahead & tell the buyer that the…"
Jul 25, 2010
Emily S. Knell replied to MD's discussion Can you submit multiple offers for a property into Equator? in the group Equator
"Your fiduciary duty is ONLY to Mr. Owner of Record (Mr. Smith), NOT the bank. Your short sale is only going to take longer and the bank will likely ask for a higher cash contribution or promissory note from Mr. Smith if you submit more than 1 offer.…"
Jul 25, 2010
Emily S. Knell replied to Joshua Bragg's discussion Any experiences with Homeowner's with Hardship and Assets i.e. IRA, 401k accounts? in the group Help Me!
"Your client does NOT have to declare 401K or IRA info to the lender, these are protected assets, they can leave these boxes blank on the financial info worksheet & if the lender asks about it, they can do a 'declaration' of sorts…"
Jun 7, 2010
Emily S. Knell replied to Karen Mathers's discussion EARTH TO MARS, EARTH TO MARS . . .COME IN MARS! in the group Equator
"You need to log into Equator immediately and send a message to your negotiator & also CC (CTRL+Click) just above & to the left of where the subject line is, when you're "adding a message" in Equator,,,send also to the…"
May 24, 2010
Emily S. Knell replied to Richard Beach's discussion 1st lien release-need help in the group Equator
"make sure you send an email to the negotiator and just simply ask this "Will my seller receive a 1099 after the short sale is complete?" You WANT to receive a YES response back,,,& get that email copy to the seller. If ever they tried…"
May 20, 2010
Emily S. Knell replied to Richard Beach's discussion 1st lien release-need help in the group Equator
"If page 1 of your counter worksheet has a purchase price. they know what their loan balance is. You'll be fine. Tip: Equator likes to still auto-compute commissions at 5% even if BofA counters you & it shows 6%,,make sure your next column…"
May 20, 2010
Emily S. Knell replied to Neil L.'s discussion Which Closing Costs does BofA Allow now? in the group Equator
"If you bring in your own buyer, get another agent in your office to go down as the "buyer's agent", you should still be able to get them to pay 5-6% BofA will still pay for: Escrow/Title fees (however they're game to what is…"
May 6, 2010
Emily S. Knell replied to Neil L.'s discussion "PLEASE AMEND BUYER NAME TO INCLUDE INDIVIDUAL NAME AS WELL AS COMPANY NAME" in the group Equator
"I suppose in the future, what one should do for an LLC, is to put one of the managing members names ON the purchase contract and / OR when Equator asks for the buyer name and first 5 of SS # etc, put in the managing member name there. OR keep the…"
May 6, 2010
Emily S. Knell replied to Neil L.'s discussion "PLEASE AMEND BUYER NAME TO INCLUDE INDIVIDUAL NAME AS WELL AS COMPANY NAME" in the group Equator
"Email the negotiator directly and give them the name of the managing member of the LLC, you should also include an attachment in your message with their LLC paperwork that shows the managing member."
May 6, 2010

Profile Information

First Name
Emily
Last Name
Knell
State
CA
City
Rossmoor
My Profile
I've been a Realtor since 1996 and have been helping homeowners with short sales in California, my office is in Long Beach, but I work out of my home in Rossmoor, I am/have worked with short sellers in my neighborhood & as well as the harder hit areas like the Inland Empire (Chino, Corona, Rancho Cucamonga) & work with upside down investors & owners in Las Vegas, Nevada. I've been working short sales since the Fall of 2006. I also have been receiving constant training from Harris Real Estate University.

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