Got a call from a homeowner who can no longer afford her mortgage payments, and her history is this ...Earlier this year, she called her lender, US Bank, asking for a loan mod. US Bank reportedly…Continue
Short sale approval is good to mid-September, and final HUD (from our side, Seller) was faxed to Chase early last week, for an August 16 (last Friday) close.At the eleventh hour, last Thursday, buyer's lender advises that they need 72 hours to review the HUD, and requested buyer close on Tuesday, August 20 (tomorrow). The new HUD has Chase receiving a few hundred dollars more than the approved HUD for last Friday's approved close date.I faxed the new HUD to Chase last Thursday night,…See More
There is no way to simply just correct what was submitted. You will need to have the task kicked back to submit a new offer. It sounds like you may have resolved it, but you need to just confirm with the…"
"Hi John Ive done in this in the past with Chase by doing a contract addendum and sending it over to them with an explanation. Adding a buyer happens all the time and I've hadn't had any experiences with them rejecting it"
Conditional Approval letter just received, and now the buyer wants to add a "co-borrower", as the counter offers have left him a little short of funds. The Conditional Approval states "No substitution of the Seller or Buyer can be made prior to the close of escrow, or Chase will cancel this approval without further notice". We're not substituting the Buyer, just adding another name to the HUD and contract. Anyone found this to be unacceptable to Chase?See More
Got in a hurry and made an error in the worksheet for a Chase short sale offer. After submitting the "in error" worksheet, I immediately received the first volley of "tasks" for that incorrect offer. I did not complete any of these tasks, however I still have a few days to do so, if that's the ultimate solution.After receiving tasks for Offer 1, and unable to determine how to correct the worksheet, I hit the "New Offer" button, and re-loaded the correct Offer 1 worksheet information, but…See More
My client re-financed their $300K US Bank loan (FHA) in 2009, creating a first mtg of $230K, and second mtg at %$70K. The monthly mtg payments were still too much, so in July 2011 (yes, nearly two years ago) I listed the home and started the SS process with US Bank. Much more about the US Bank experience, but too much for this post. I feel we're now down to the wire, but HUD is telling me that they won't release the $70K second without full payment, no exceptions. Anyone had success in…See More
Our 120 day FHA pre-foreclosure (ATP) period expired last Thursday, with US Bank stuck on 2 appraisals that are easily 20% higher than actual comps for the area. This home is on some pretty bad acreage ...untillable, and located way out in the country. The US Bank appraiser is using several comps in nearby towns that are closer to a large metro area, and therefore pricier. We've given US Bank REAL comps, just a few weeks into the pre-foreclosure program, and again, just before the program…See More
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