1) Preparing for a short sale should includes speaking to professionals such as attorneys and CPAs to get the best picture of the legal and tax implications and potential documents may be once a short sale is completed. Some…"
"Interesting..Tony who is the investor? I remember years and years ago, a servicer had a per dime fee in their approvals to counter any requests for extensions. I've never seen one since. Is this investor related or Nationstar in general?…"
"You can use your own authorization. Make sure it has the pertinent info including last 4 of social. Must be signed and dated. No electronic signatures. Also some lenders may expire out the authorization after a few months."
"Hi, I've only had one incident that Nationstar backed away from the auction and that was quite a few years ago. When a file does go into homesearch.com, as Elizabeth says there is a 5% premium added to the purchase amount. This turns away most…"
"Thanks much Brian and Elizabeth. Sorry I was doing 2 things at one time. Yes, looked up both sites in the beginning and they are not Fannie/Freddie. I went to MERS just to make sure I confirmed what didn't come out of the…"
"Thanks Brian. Deeply appreciate the insight!!! Thanks Elizabeth. The information I received was that the original loan was an 80/20. However, it was hard for me to confirm for sure. I will double check again to see if the investor…"
"Thanks Brett. In the last 10 years of working SS, I've never had a WF take this stance before. It's as if they never saw the distribution or took into account the first being Wells. The Jr. Lien was an equity line bridge so was…"
"The first gave the 2nd $6000.00 per the 2nd's requirements. The 2nd throughout the course of the 1st's approval period maintained that they only needed $6000.00 as the basis for their approval. It took about 2 months to obtain…"
"Has anyone had a short sale with Wells Fargo in first and jr. lien position where the Jr. lien denied the short sale after advising that they ONLY need $6,000 to proceed and the approval letter from the first? No requests came from Jr lien during…"
"Desmond, were you provided a counter before the decline? If so, then that counter would have been the minimum the bank may have wanted to obtain the Net Proceeds the investor is requesting on the file. That being said, if you were not,…"
"Unfortunately, NS has not allowed any bypasses. There is an "auction" department headed up by Mark Layton (I think) at NS that you may want to connect with. They are not very helpful. Make sure you read the material that…"
I have been a licensed Real Estate agent since 2006. I am a full time Buyer/Seller Realtor. I also hold a Loan Originator License (NMLS#610035) to provide 3rd party Short Sale Negotiation services to other Real Estate agents. The 3rd party service I provide has given me great experience with so many different lenders -- Large and Small. Prior to Real Estate, my career was in Credit Finance for Fortune 500 companies from various industries which is why I love Short Sales and the drill down/negotiations that these files require to be successful.
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