Guerry Clegg
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  • Columbus, GA
  • United States
  • Georgia
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Guerry Clegg's Discussions

Short sale checklist

Started this discussion. Last reply by Patricia Bravo Dec 18, 2012. 2 Replies

I use Top Producer, which makes it easy to schedule tasks, like emailing updates to buyers agent. Does anybody have a general checklist they could share? Obviously, there's no one-size-fits-all, but…Continue

Chase VA compromise sale

Started this discussion. Last reply by Mike Rosania Mar 30, 2012. 5 Replies

My colleague is representing a seller with a VA loan through Chase, and her contact -- presumably a negotiator -- said they would accept a net payoff that was $3-4k below the VA required 88.13…Continue

Who has to say 'Yes'

Started this discussion. Last reply by Joseph Alfe Feb 6, 2012. 3 Replies

I tell clients and agents that one of the keys to getting short sales approved, or at least understanding the process, is knowing who has to yes. The lender(s), obviously, has to, but there's often a…Continue

VA shortsale and Fannie Form 710

Started this discussion. Last reply by Guerry Clegg Feb 6, 2012. 2 Replies

I'm working a short sale with SunTrust, and they have asked for the seller to complete the Fannie Mae form 710, Uniform Borrower Assistance form. I don't recall sellers having to complete this for a…Continue

 

Guerry Clegg's Page

Latest Activity

Guerry Clegg commented on Jason Yacoub's group M&T Bank
"Also, this is an FHA short sale. M&T is telling him the house has to be listed for 90 days before they will consider an offer. They told another agent in my office the same thing on another FHA short sale. That one is current on payments, and my…"
4 hours ago
Guerry Clegg commented on Jason Yacoub's group M&T Bank
"Thanks Chad"
4 hours ago
Guerry Clegg commented on Jason Yacoub's group M&T Bank
"Anyone know if the fax numbers are current? All of the links that I've tried within this group appear dead. "
Friday
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"I'm confused. Why would you need a variance for 86 percent within the 30-60 day period when that's the required net for that period?"
Sep 13
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"That's good to know. The last time I tried they were completely rigid, but that has been a while. Our net was about 94 pct, which made it more frustrating. "
Sep 12
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"So Brett and Alexis, it sounds like HUD has loosen their rule about the allowable/disallowable costs. Is that right? If so that's good to know. It still has to net 88 percent for the first 30 days, so that doesn't allow much wiggle room…"
Sep 12
Guerry Clegg commented on Wendy Rulnick's group VA Compromise Sales
"68%20Lee%20Road%20962%20allowable%20costs.pdf This is what I have received on the last several Chase VA short sales. It makes no sense because VA is only concerned with the 84.05 percent net. In fact, I always thought that VA limited closing costs…"
Feb 27
Guerry Clegg commented on Wendy Rulnick's group VA Compromise Sales
"Chase has a stupid rule that it will only allow certain closing costs to be paid by the seller. I have escalated and received approval but have not always been successful. I had to get an email from VA to confirm that they would pay the claim."
Feb 27
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"Scott, is there a mortgagee letter that states a credit score threshold for non-Streamline? I have never seen one. I had 2 traditional short sales that were denied because the sellers abandoned the property, so I tried to get them approved for a…"
Aug 30, 2017
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"Corinn, I think the Lender is getting it confused with Streamline. I don't know of any mortgagee letter that states that, and my personal experience is I've had FHA sellers  maintain good credit and stay current until missing their…"
Aug 30, 2017
Guerry Clegg joined Jeff Payne's group
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US Bank

US Bank services Florida Housing loans Ph#: 1-800-365-7900 Fx#: 1-866-563-9508See More
May 20, 2017
Guerry Clegg joined Edward Codelia's group
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Loancare Servicing

A 3rd party company processing short salesSee More
Mar 14, 2017
Guerry Clegg liked Edward Codelia's group Loancare Servicing
Mar 14, 2017
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"Got that. So, if a PC is say $2,000 and the seller is eligible for relo assistance, then I guess the seller would receive $1,000. Is that right? Either way, this seller cost would be $3,000 or more, depending on the amount of the PC, so it looks…"
Feb 21, 2017
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"That makes sense."
Feb 21, 2017
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"In Mortgagee Letter 2013-23, the only disqualification for the $3k relo money that I see (assuming the seller has not already relocated) is sellers required to make a cash reserve contribution. Then the wording was updated in ML 2014-15. But maybe…"
Feb 21, 2017

Profile Information

First Name
Guerry
Last Name
Clegg
Are you a...
Agent
State
Georgia
City
Columbus
My Profile
I've been selling real estate for 9 years and added short sales as a specialty about 4 years ago. I've completed a number of them and hold the SFR designation. But there's always so much more to learn. This site is one of the best places to learn because of the breadth of experience everyone here has collectively.

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