Bayview finally had a BPO done weeks ago and now again no response, voice message boxes all full, no answer on other numbers and some numbers do not work. This is my longest Short Sale ever and I can…Continue
For you this is personal for the lender it is just business. Do they care about the property? No, they never wanted the property they wanted the money. if you do not buy it someone else will and they may sell it to someone else for far less…"
"You can not to my understanding quit claim your financial obligation away. The last one like this I did, the ex-wife signed everything, I submitted the divorce decree which also put the property in the ex husband's name and they had a Quit…"
"Donna- I have!
Just closed on a OcWen short with Wells Fargo as the buyer's lender.
They want to see if the contribution to buyer's closing costs is reflected in their lender's expectations. Fairly standard in todays short sale…"
"Following the rules on these FHA-HUD sales makes life much simpler.
It is 1% using another FHA loan and 0% for anything else, that would be VA in your case.
Sure it may well get approved with a variance but it may not and time goes by and the clock…"
"Was this buyer not pre-approved? All my buyers short sale or otherwise submit a pre-approval letter from a specific bank and with the terms, length of loan etc or proof of liquid funds. We did switch from a FHA loan to a conventional on one purchase…"
"PHIL- I have done those with one over sheet and several signature pages all separately signed and notarized. Or get one set done & notarize by those, have them scan it to you and add on the next ones."
"I have had one approved where the sellers have moved. They have submitted several letters as to why and proof that the utilities are on and the property cared for. We now have approval and are closing in May."
"I am certainly not aware of any incentive on a FHA/HUD PFS sale other than the $1000 to start and moving down to $750. That and the fact that the sellers get a non-deficiency and get to move on gracefully. That is certainly worth something!"
"Just got an approval on my FHA Ocwen- was GMAC to start. Very interesting on Equator and it was starting to look like a HAFA, or at less they thought it was. Lots of repetition and calls in and escalation BUT we are approved."
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