"I have an FHA shortsale (no equator) with Bank of America that started last JULY 2012! We did not get qualified status until November 2012! Guess what??? Still no approval letter in hand May 5, 2013. 2-3 times weekly calls, MIA…"
"Especially if you are in a non-deficiency judgement state, you are not doing yourself or sellers any favor by taking the highest offer. First off, why is a home being underpriced by $43,000? The short sale pricing should ideally reflect the…"
"What a jack ass. DONT GIVE UP. Escalate to a superior and keep going! I left Coldwell Banker and started my own brokerage BECAUSE of the horrible market! We are barely making it and still in a hardship. The alternative would have…"
"If I am correct, here in Arizona a law was passed not allowing any up front fees for modification, and that fees could only be paid upon successful completion. That's get the attorneys back into their own field real quick, I'd…"
"Kazork is like Ebay for homes. After I explained the process to my Buyers, they didn't want to have any thing to do with it as some of their contractual concerns could not be addressed immediately. I have another buyer now wanting…"
"At the end of the day, a short sale trumps an auction for the SELLER. He needs to realize he is not calling the shots and will be the one with a foreclosure on his record. The clock is ticking. It's up to him. If he'd like some help,…"
"The insurance is paid in advance for the year, I believe. If your client pays it directly to the insurance company, I would think the remainder would be returned. It wouldn't be involved in the closing, I don't believe. I don't know…"
"How could someone NOT figure out that lowballs and short sales don't go together rather quickly? After being told a number of times it won't work, it would turn into the "What do you not understand about NO?" question. What IS…"
"Maybe get your broker authorized on file and have them call in and go up the ladder? PNC needs some new leaders and policy or in this market they are going to drive the bank under. On the news yesterday I heard PNC was supposed to be working with…"
"I've been the rounds with PNC. On my short sale (still in process) they insisted their percentage of demand as a junior lienholder was 10% and would not budge on it. They also insisted that their standard of practice regarding offers to junior…"
"If you have access to a GOOD document or article on the consequences of a foreclosure vs short sale, forward that to him. He's going to walk around with a foreclosure curse on his credit for at least 7 years. Credit Reports don't even have…"
"You can also have your seller put together a financial statement of projected expenses, including what their estimated rent will be, and new income and present that to your negotiator. If there is no room, tell your negotiator this is simply not…"
"Is it a HAFA shortsale? Are you a non-deficiency judgment state? In either case, Promissory Notes are out the window. HAFA guidelines say the lien must be satisfied in full. In non-deficiency states, Promissory Notes are proving impossible to…"
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