"I have a short sale with SPS that began in July. Everyone is polite and nothing gets done. Especially aggravating is that it is an FHA loan and since the change in FHA short sale policy on Oct. 1, a BPO was ordered and completed by an…"
Effective 2-15-13, for all loan portfolios except FHA, agents will no longer be receiving the following tasks within EquatorHardship ReasonsFinancial InformationWendy, can you comment on the change in attitude?See More
"Garey, I wish you were wrong. I started a SS where the lender was Wells Fargo. About 2 weeks into the process, we were notified that Wericrest had bought the loan. I couldn't for the life of me understand why Vericrest (or…"
I recently had a failed short sale with Vericrest. According to the negotiator that I dealt with, they buy packages of non-performing loans from lenders at discounted rates and will entertain short sale apps with high offers. They are San Diego based, according the negotiator, and actually have a group of people that make the decisions on accepting the short sale offer or proceeding with foreclosure. Sounds an awful like speculators to me.See More
I have been a real estate broker in St. Louis and the surrounding area for 38 years. Never has their been a better opportunity for real estate agents to be of service to their clients than now.
Helping sellers avoid foreclosure through the short sale process or, for buyer's agents, helping a family get into a home they could not afford just a short time ago has never been as satifying as now.
I have closed 50+ short sales AFTER the seller has received a foreclosure notice.
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