Michelle Ridley
  • Female
  • San Diego, CA
  • United States
  • CA
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  • Carmine R Biello Jr
 

Michelle Ridley's Page

Latest Activity

Michelle Ridley joined Jeff Payne's group
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US Bank

US Bank services Florida Housing loans Ph#: 1-800-365-7900 Fx#: 1-866-563-9508See More
Oct 18, 2012
Michelle Ridley joined Rosemary Brooks's group
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HAFA - Home Affordable Foreclosure Alternative

Let's get this group going to track how this program is helping homeowners avoid foreclosure.See More
Oct 18, 2012
Michelle Ridley joined Wendy Rulnick's group
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GMAC

This group is for information, tips and solutions for GMAC short sales.See More
Oct 18, 2012
Alex Krumm replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"If it's short on the 2nd, it's still a short sale ... as with a regular sale, missed payments should spur them to look for a cash-out resolution."
Sep 17, 2012
Rachael Babinchak replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"What about converting the 2nd lien to a unsecured, personal loan?  I'm in AZ but was able to have a regular sale for all but the last $7k and now it's just small payments on that balance."
Sep 17, 2012
Thom Colby CA Brkr 888-391-5245 replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"Michelle - As you know, in CA if the lender approves a short sale, by law the lender cannot ask for borrower contribution or promissory note and there is NO deficiency.  If the borrower OFFERS payment, all bets are off.  The borrower may…"
Sep 17, 2012
Michelle Ridley replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"Thanks Alex."
Sep 17, 2012
Michelle Ridley replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"We want to settle the 2nd so we can do a regular sale and payoff the 1st, the 2nd would still net way higher than short sale amount and the sellers would keep their credit in better shape. In theory anyway, I havent done it before hence the…"
Sep 17, 2012
Alex Krumm replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"That's still a short sale.  You might be able to get an approval letter up front from BOA but if you're short on the 2nd's payoff, you're still a short sale. The seller can either pay the difference at closing or do a short…"
Sep 17, 2012
Michelle Ridley replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"That was the idea, the borrower was willing to come in with $50K on a $300K 2nd, which would be well above the $$$ they usually get."
Sep 17, 2012
Alex Krumm replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"I think a settlement for less than what is owed is by definition a short sale ... I've done successful shorts with customers who COULD cover the difference but didn't want to but I've never tried to get them to release the lien as…"
Sep 17, 2012
Thom Colby CA Brkr 888-391-5245 replied to Michelle Ridley's discussion Settlement Offer Question in the group Bank of America Short Sales
"I'm confused.  If it's not "short" then why would they settle for anything less than a full payoff ? "
Sep 17, 2012
Michelle Ridley added a discussion to the group Bank of America Short Sales
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Settlement Offer Question

Has anybody successfully made a settlement with B of A 2nd lien that is NOT a short sale? See More
Sep 17, 2012
Michelle Ridley posted a status
"Thanks for the feedback. We found it was a title company issue, once we found that out it was resolved quickly."
Sep 13, 2012
Bryant Tutas replied to Michelle Ridley's discussion HUD Approval Problem in the group Green Tree Servicing
"It's my understanding that GT does not approve HUDs. They have a disclosure right at the bottom of their approval letters stating t they do not dictate how the HUD is prepared. I'm not in CA but I would be shocked if their were a law that…"
Sep 11, 2012
Michelle Ridley replied to Michelle Ridley's discussion HUD Approval Problem in the group Green Tree Servicing
"Brilliant, thanks for your help."
Sep 11, 2012

Profile Information

First Name
Michelle
Last Name
Ridley
Are you a...
Agent
State
CA
City
San Diego
My Profile
SFR and CDPE, working to help people avoid foreclosure.

Comment Wall (1 comment)

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At 11:17am on September 6, 2013, Sara Pichelmann said…

most likely they will accept it for the current buyer only, otherwise it will be a deal change

it takes nationstar a week or so to set up, you may be able to go into Equator and start the process.

 
 
 

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