Frank Biganski
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  • Newport News, VA
  • United States
  • Virginia
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Frank Biganski's Discussions

BofA FNMA COOP $3,000 RELOCATION INCENTIVE

Started this discussion. Last reply by diane campos May 17. 8 Replies

This is my first time working with the relocation incentive...  where is the $3,000 relocation incentive placed on a HUD, or is it placed on the HUD?  The closing agent entered it on lines 209…Continue

Does anyone have email address for BB&T CEO Kelly S. King?

Started Apr 21 0 Replies

I don't know what else to do at this point. Both 1st & 2nd lien with BB&T but negotiator refusing to work with seller's $17,000 2nd.BB&T has opportunity to receive $116,000 payoff of 1st…Continue

BB&T HAP Sale w/Short Sale

Started this discussion. Last reply by Frank Biganski Apr 17. 2 Replies

$133,000 note with BB&THAP says $17,000 of that was due to a refinanc, no 2nd, so HAP only pays $116k.BB&T says sellers $3,500 in the black each month.BB&T file negotiator says there's no…Continue

HAP Legal Finds Seller Did Not Disclose Refinance Weeks Before Closing

Started this discussion. Last reply by Wendy Rulnick Feb 19. 3 Replies

My overseas seller apparently failed to disclose that they refinanced a home I've had under contract. Now HAP legal department discovers the refi and of course, will only cover the original balance…Continue

 

Frank Biganski's Page

Latest Activity

diane campos replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"I dont have an answer for you, but do have a question. I have an offer that covers the first with ING, and enough for all cost, etc. and still more, but not enough to pay off the second with B of A, the owner could just walk and let ING have…"
May 17
David D McElroy replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"It depends on you negotiator/closer. Some will want it on page 2 in the 1300s others will require it to be in the 500 section page 1. Submit the preliminary HUD and the negotiator/closer will correct for their preference."
May 17
Frank Biganski replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"Thanks a lot Magda!  This was exactly the answer I was looking for!  As Michael stated, I know the credit has to be placed in the 500 section as per RESPA and U.S. Treasury Guidelines but I couldn't find any add'l info on the…"
May 7
Magda Robles,Cdpe,Sfr replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"What we call the Relocation Incentive from BofA - of $3,000  -as required by them in a deal I just closed on April. 29th, 2012 This amount was required to show under Line 509 and should read. "Cooperative Short Sale Incentive"…"
May 6
JD Dugger replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"This is something that title can handle.  Once you receive confirmation from the bank on the incentive send a copy to title and ask them to add it to the HUD.  It definitely needs to be on the HUD...  Title should be familiar with…"
May 6
James ferebee jr replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"I would place it in the 1300 areas as this is where the lenders asks that the FHA incentive paid to the seller also the VA relocation assistance to be placed in the same area is the way I have been doing this for 5 years now."
May 6
Lisa Cedillo replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"Yes, this is correct, the Coop is made, because the property is a Fannie Mae property but the Seller doesn't qualify for HAFA, and because it is Fannie Mae, it doesn't qualify for Streamline Short Sale, therefore, the Coop exists, all that…"
May 5
Michael Schneider replied to Frank Biganski's discussion BofA FNMA COOP $3,000 RELOCATION INCENTIVE
"Section 500: BofA/Fannie Co-Op Program Seller Incentive Payable to Sellers.......................$3,000 Line 603 = $0 It is not a closing cost credit for the buyer, it is a payment made to the seller from the proceeds "
May 5
Frank Biganski posted a discussion

BofA FNMA COOP $3,000 RELOCATION INCENTIVE

This is my first time working with the relocation incentive...  where is the $3,000 relocation incentive placed on a HUD, or is it placed on the HUD?  The closing agent entered it on lines 209 and 509 as a seller paid closing cost, but that doesn't look correct to me because it doesn't financially benefit the seller.Thanks,FrankSee More
May 5
Frank Biganski replied to Anthony and Christi Jensen's discussion Variance Requests in the group FHA - HUD Short Sales
"Hey guys, Can you provide me with an example of how to complete the Variance based on the following scenario: List Price: $85,000 (listed March 2011) Sales Price $72,500 FMV Today $57,500 HAP pays 1st lien $116,000 2nd lien $17,436 Both liens…"
Apr 21
Frank Biganski joined Stephanie Lim's group
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FHA - HUD Short Sales

HUD rules for FHA short sales, tips, experiences, etc.Fax LOA:  918-236-3274PH 877 622-8525See More
Apr 21
Frank Biganski posted a discussion

Does anyone have email address for BB&T CEO Kelly S. King?

I don't know what else to do at this point. Both 1st & 2nd lien with BB&T but negotiator refusing to work with seller's $17,000 2nd.BB&T has opportunity to receive $116,000 payoff of 1st lien from HAP, but refuses to even consider negotiating the $17,000 2nd saying sellers do not meet FHA guidelines so BB&T's hands are tied.Property value now $55,000 - $60,000; a bank owned just listed for $57,500.BB&T had the opportunity to receive more than twice what the condo could sell…See More
Apr 21
Frank Biganski replied to Frank Biganski's discussion BB&T HAP Sale w/Short Sale
"Thanks for the great advice... this negotiator was standing strong stating that Fannie guidelines and the seller's $2,000 a month possitive cash flow, and two other investorment properties, disqualifies them from having hiome even consider…"
Apr 17
SE Davis replied to Frank Biganski's discussion BB&T HAP Sale w/Short Sale
"I have had very good experiences with BB&T. They are very sensitive to public relations issues and complaints. 1. Remind BB&T that their contract with Fannie and Freddie now states that being underwater is considered HARDSHIP…"
Apr 5
Frank Biganski posted a discussion

BB&T HAP Sale w/Short Sale

$133,000 note with BB&THAP says $17,000 of that was due to a refinanc, no 2nd, so HAP only pays $116k.BB&T says sellers $3,500 in the black each month.BB&T file negotiator says there's no hardship, even with PCS order & wife lost job.Property under contract for $72,500Property values only $70,000 - $80,000Community no longer FHA approved w/ratios so only, only cash buyers allowed.I explained to BB&T that if owner continues to lease at current lease rates, they are $750…See More
Apr 5
Frank Biganski replied to Rachel Diedrich's discussion BOA Short Sale in HELD Status... what does this mean in the group Equator
"Okay, can someone explain this... under "My Properties & Offers," I see one of my short sales labeled "Rejected" with Status: Offer Analysis.  Yet when I click on the property address and then click on the…"
Mar 5

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First Name
Frank
Last Name
Biganski
Are you a......
Agent
State
Virginia
City
Newport News

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