This SS is a conventional loan with Wells Fargo Financial a different division apparently than the bank or mortgage department. The short sale is not processed through Equator.The seller has provided…Continue
"Does anyone know who to contact at the HUD-FHA loss mitigation department? The owners took out a Reverse Mortgage on the home in 1999 and have both since passed away. The house has sat vacant for at least 4 years now and the last owner…"
"I agree with Sharon's logic. I have requested the EM and the inspections to be done as soon as possible rather than waiting for 3rd party approval. The buyer needs to clear objections early in the transaction. Also the buyer needs to feel like…"
"Thanks for the USDA guidelines link, I have been searching for the information. I have a couple of questions in reading through it. What is: "Employee in a private or public organization- SFHGLP Servicing Plan"? There are several…"
"Seriously your first response is to see if the buyer or agent will contribute when the seller has likely not been making a payment on the house? One would think that the first place to go is the seller to see if they have saved up any money. Since…"
"The buyer is likely thinking that he could just take over the loan that is being shorted. If the lender was in a position to do that don't you think that notion would be made public for all buyers to inquire about? The lender the seller is…"
It is not too likely for any repairs to be made on the home before closing. You will most likely need to get a loan program to purchase the home with a repair escrow built in to complete your desired repairs after you own the property. HUD does…"
"If the property was lost in BK the BK trustee will be the one who is liquidating assets to pay off creditors. The owner would still need to sign the deed if the property is still in her name although the BK trustee would be negotiating terms.…"
"David, Have you called the real estate broker who handled the short sale? Certainly if your name was on the mortgage you have a right to the approval letter whether you had quit claimed the property to your ex or not. Call the realtor."
"Just a different spin on Fannie Mae at foreclosure. A recent trustees sale had a minimum bid of $222,000 and then sold back to bank for $176,000. They seem to be pushing the amount they will accept for investors at the courthhouse sale attempting to…"
"The judgement will likely not get wiped out at foreclose sale as the reason for the judgement is personal with the lady and is not a true lien against the house. Just like fed tax liens they follow the person not the real estate. "
"In Utah only the buyer and seller sign the purchase and sale contract as the Realtors are not a party to the sale. The Realtors only sign the listing representation and buyer representation agreements. It is not acceptable to insert language into a…"
"Utah short sale contracts say that the buyer or seller may cancel contract at any time prior to third party approval. If your contract has similar verbiage your obligation is to get whichever deal to closing that 1) has the highest likelihood of…"
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