Ken Bailey
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Latest Activity

Ken Bailey replied to Donna Clayton, Broker, MBA's discussion New Listing - Less Than 30 Days Away from Foreclosure Sale Date in the group Wells Fargo Short Sales
"My suggestion to you would be to get it listed today and submit an offer today...any offer (you need to know what their desktop value is, if they don't have true appraised value yet). If you do a lot of short sales then you should have several…"
Oct 22, 2016
Ken Bailey replied to Brenda Wood's discussion Can't get a value despite numerous BPOs to move a Short Sale in the group Chase
"Brenda - most of the larger banks have escalation systems on Twitter (BoA, WF, Chase, PNC, etc.). You'll need to start by following Chase on Twitter, and sending Chase a request to follow you. Once you have a connection, then you…"
Dec 2, 2015
Ken Bailey replied to Vincent Donaldson's discussion New Citi-Bank SS Road Block Department in the group Wells Fargo Short Sales
"Vincent -- unfortunately I can't shed any light on your particular situation, but I just thought I would respond to let you know that you have start a discussion on a Citi SS in the Wells Fargo SS discussion group. Perhaps your situation will…"
Jun 19, 2014
Ken Bailey replied to Sharona Byrnes's discussion Ocwen won't accept a deed-in-lieu? Are they crazy?? in the group OCWEN
"Sharona--have you tried Kathy Robinson at Ocwen? She is in management in their SS / Loss Mit Dept and she is great to work with. She may not respond to your email herself, but we always get a call within 24 hrs (usually the same day) from someone on…"
Jan 3, 2013
Ken Bailey joined Wendy Rulnick's group
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GMAC

This group is for information, tips and solutions for GMAC short sales.See More
Nov 30, 2012
Ken Bailey replied to Noel Crider's discussion Approved Short sale cancelled by Wells Fargo 10 days before close. in the group Wells Fargo Short Sales
"Good info Joe. I have a direct contact in escalations, but your info is prob more helpful to Noel. I just have to add that I find Freddie at least equally as evil as Fannie, and I think even more so. I would bet that Freddie was the one who canceled…"
Nov 6, 2012
Ken Bailey replied to Stephanie Hart CA 310-930-2342's discussion No lates and approved shorts! Your experience? in the group Wells Fargo Short Sales
"Our experience is that FHA is still requiring borrowers to be a minimum of 30 days delinquent on their mortgage before CLOSING a short sale in their PFSP. They do not have to be delinquent to start the PFSP process, just by the time it closes,…"
Oct 19, 2012
Ken Bailey commented on James ferebee jr's group OCWEN
"To answer your question about the 7 day HUD review time, that sounds about right, but you may still have to push Ocwen to stay on top of it...use the squeaky wheel principle. If you don't see any progress in 7 days, send email to Kathy…"
Sep 27, 2012
Ken Bailey commented on James ferebee jr's group OCWEN
"Well knowing now that you have an FHA SS, 84% may have done the trick, but you never know what Ocwen guidelines are for the file. In other words, even if investor will accept 84%, Ocwen may not accept less than 90%. They are difficult to figure out.…"
Sep 27, 2012
Ken Bailey replied to Sharon L. Ellsworth's discussion Seller transferred in the group Chase
"Shouldn't be a problem Sharon. We see this same hardship all the time and haven't had an issue. Good luck!"
Sep 27, 2012
Ken Bailey replied to Mary Kent's discussion Need Help Please in the group OCWEN
"You're Welcome Jacqueline. I'm glad it worked out for you. Sometimes I swear that Kathy and Joanne Perez are the only people with a brain over there (at least the only ones we've worked with so far). Short sale gods help us all if…"
Sep 14, 2012
Ken Bailey joined Stephanie Lim's group
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Indymac

Information on Indymac short sales. Tips, tricks, etc.See More
Sep 11, 2012
Ken Bailey replied to AnaLee Schnell's discussion Wells Fargo strikes again in the group Wells Fargo Short Sales
"AnaLee--while I will agree that WF certainly leaves a lot of room for improvement, and some of their new doc requirements border on the ridiculous, I would definitely disagree that they are the worst of the 8 large banks…"
Sep 11, 2012
Ken Bailey commented on Bryant Tutas's group PNC Bank
"Patricia--I have had similar situations as SE Davis below, ranging from miserable to great, so I started a dialogue with the negotiator on the file that went great. I think I found out why there is such variability in the level of service. She…"
Sep 10, 2012
Ken Bailey commented on James ferebee jr's group OCWEN
"She has never told us that we email her too much, and we do every time we hit a snag. As far as the valuation, 80% is lower than what most investors want. For example, FHA min is 84% (without a HUD variance), VA is 88.13% (no exception), and these…"
Sep 7, 2012
Ken Bailey commented on James ferebee jr's group OCWEN
"Ann--email Kathy Robinson with your issue. Her contact information is at the very front page of this group. She will take care of you."
Sep 7, 2012

Profile Information

First Name
Ken
Last Name
Bailey
Are you a...
3rd Party Negotiator
State
Virginia
City
Virginia Beach

Ken Bailey's Blog

VHDA short sales

Posted on February 27, 2012 at 1:24pm 0 Comments

Are there any other Virginia SS gurus on this site? I could use some help on a VHDA SS. VHDA is a tough nut and we could use some help from someone who has more experience than we do with them. We've closed one with them, and it went beautifully, but we are finding that they don't negotiate and their SS terms on their non-insured loans are all but impossible. I am working on 2 at the moment (neither are insured loans--the one we closed was insured, so none of the following conditions…

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