Jeremy Stuart
  • CA
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First Name
Jeremy
Last Name
Stuart
State
CA
City
Irvine
My Profile
Hi, I work for my Dad, who is a Broker/Attorney in Irvine. It's going pretty well, because we've gotten through 19 Short Sales since April, 2010. While it does get discouraging sometimes (as there were probably a total of 60 deals that I have worked on), short sales are the way to go in 2011!

Jeremy Stuart's Blog

Flavor of the Month: 2nd's are Holding Short Sale Deals HOSTAGE

Posted on July 26, 2011 at 7:29am 0 Comments

Hi, there are 3 deals that are ready to close, but the 2nd's are asking for 50% of the loan balance, and I just do not know what to do:

 

1) Realtime Resolutions: they have a balance of 140K, and are asking for 80,000 as a payoff. The 1st (B of A) has allotted them $6,000.

 

ANY ADVICE ON WHAT TO DO?

 

2) Strategic Recovery Group: they have a balance of 120K, and are asking for a $60,000 payoff.

 

3) Indymac: They are doing a BPO (Why…

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Lenders should loosen their criteria regarding short sales

Posted on May 29, 2011 at 2:59pm 4 Comments

Many short sales are lost, and fall out because banks (such as 1st mortgage) have such strict requirements that it becomes nearly impossible to satisfy these ridiculous requirements.

 

What really buggs me is that many of these requirements (RMA form) are Loan mod forms and make absolutely no impact on the short sale. Why do the banks require these ridiculous forms to be filled out? Who cares how many previous marriages the seller had? Why do these forms have to be filled out…

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