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KB Keller Williams's Discussions
Has anyone completed a short sale with LBPS / Seterus?
Started this discussion. Last reply by Becky Martin Sep 21, 2011. 5 Replies 0 Likes
We received our approval with the following phrase: upon completion of all requirements by borrower(s), Seterus, Inc. will execute a release and a discharge of the deed of trust/mortgage and if…Continue
Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K
Started this discussion. Last reply by Kevin - Greenville, SC Mar 1. 38 Replies 0 Likes
Does anyone know of any options for a seller when the second mortgager PNC refuses to particpate in HAFA? Has anyone seen the first mortgages allow the seconds through a regular short sale receive…Continue
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KB Keller Williams replied to Jeff Payne's discussion If you could ask Bank of America one question, what would it be?KB Keller Williams posted a status"does anyone have a great software short sale management program they would reccommend?"
Kevin - Greenville, SC replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34KKevin - Greenville, SC replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"OFFICERS & DIRECTORS
Name
Compensation
James Rohr
16,600,800
Joseph Guyaux
5,367,940
William Demchak
9,422,990
Thomas Whitford
6,954,760
Richard Johnson
3,198,010
» More Officers & Directors
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Mary K Foster replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"I am in Phoenix also and I see why agents reject them, I am all for a challenge but this is just ridiculous. I cannot get past the first line of defense at PNC, every number or email I have received from forums has been disconnected. Do you…"
James Miner replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"Here is Phoenix it is very difficult to find anyone who will take a PNC short sale. They pride themselves in getting nothing vs. something. When management has that mind-set it is very difficult to achieve a successful short sale.…"
Gary Johansen replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf
Page 6, middle of page COMPLIANCE PROGRAM"
Patrick Perkins replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"Currently doing that option with PNC. Had lien strip motion in place, they objected to debtors/sellers plan but we worked out an agreement with their bankruptcy counsel to approve the plan which includes the short sale approval and…"
Mary K Foster replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"Thanks Teresa for your help, I have already emailed your gal! I sure hope that helps and that I get an answer fast ,, like tomorrow! I have had a difficult time escalating in PNC, I have a title company with many upper contacts and she gave me about…"
Donna McClelland replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"Awesome info Jennifer!"
"@Jeff: when they blame the MI company, get a letter from an attorney(well worth the 250.00 cost) Demanding that the MI company perform the task that they were paid to do...DO NOT let the MI company hold your deal hostage...they were paid for a…"
"Yes...I'm in one now and have completed many in the past. You will need to get everyone on the same page with a 10% payment to the 2nd...PNC knows that if they were in the same position that they would never accept less than 10% in…"
Mary K Foster replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"oh please give me that contact you talk about. I am having an impossible time with PNC handling an ETrade second , it is a HELOC, for 47,000 and the seller had valid hardships. Many of them. Out of the 47K PNC is asking for 40K and does not care…"
Jeffrey Burnham replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"PNC is a NIGHTMARE!! I just closed with them on a 1st loan....it took calling VPs when they bubbled back and forth between them and their subsidiary Cardiss for months.
They ultimately did get the deal done...7 months later with Buyer #2. They…"
Linda Susan Fox replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"I had a short sale with PNC as the second. The sellers owned about $35,000 and PNC would release for $3300 or forgive for $15,000 plus the $3300. Bank of America offered $3000 and the buyer paid the additional $15,300. All was done…"
Joseph Alfe replied to KB Keller Williams's discussion Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K"You wasted time even attempting HAFA. Seconds almost never comply. If PNC wants 30K, offer them a cash settlement to buy out the deficiency. Start low, and work up. At some point they will accept-probably around 3K, assuming…"
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KB Keller Williams's Blog
Does SB 458 in California allow voluntary contributions by the seller to the second mortgage?
Posted on October 14, 2011 at 8:37pm 2 Comments 0 Likes
We have approval from Wells Fargo the first with them providing 7500.00 of the 34K that is being paid to the second mortgage PNC. Upon submittingthe HUD for final approval Wells Fargo states know that the second mortgage cannot receive these funds even if they are voluntary. I called my Real Estate Attorney and he also said that YES they can contribute if it is voluntary. Does anyone have any infor on this or a resource to direct me to. We are suppose to close on…
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