I got an approval from Chase however it does not address the deficiency with the borrower. The negotiator told me that on the FHA loans that I would need to talk to HUD or FHA to get a document…Continue
I have a file where M & T bank has the loan and Bayview Loan Servicing is handling the short sale. I submitted the offer on 1/9 and was told it was received and I would have a negotiator assigned…Continue
I have a file with a USAA heloc. The homeowner is in foreclosure because she is way behind on her first lien, however she never stopped making payments on the USAA heloc because the payment is only…Continue
“BPO” stands for “Broker Price Opinion.” It is a report for the given value of a property, that a real estate agent will give to a lender to determine what to do with a property where they have a loan. And it is just what it sounds like, an opinion! All they do is quickly glance at the recent solds in the neighborhood, and go to the house to take pictures(they are at the property no longer than 10 minutes – a time frame that no buyer would feel comfortable making a solid offer in, given that…Continue
When I first heard about the Bank of America Cooperative Short Sale Program, I thought it might be more blah blah and less ah ha!
I was initially skeptical, A) because banks are famous for coming out with “new programs” that don’t end up getting squat done! And B) because I was told that with this program, the bank does the appraisal BEFORE an offer is received for the…Continue
I am new to ShortSaleSuperstars. I have used it as a reference a few times and known about the site for over 6 months, but just decided last week that I need to get involved more with internet blogging for my real estate business. Since I specialize in negotiatiing short sales, I thought it important that I join networks online that pertain to short sales. It looks like this is the best there is, so I am diving in :) - I will do my best to comment on as many questions and forum posts as I…Continue