Is it just me or is BofA absolutely ridiculuous in pushing HAFA. They make the customer call in and give them the "HAFA is the BEST program" sales pitch which apparently everyone gets ( whether they…Continue
Please help me understand this decline - as its a new one and makes no sense.I started a short sale several weeks back with First Franklin. Halfway through the short sale the loan gets sold to Bank…Continue
"Need some help with a Provident Freddie deal. Ready to approve but the servicer insists Freddie will allow 3% seller concessions to a buyer with an FHA loan only. I know this is nonsense as I have always gotten 3% to any financed buyer, but they…"
"Ron - you are exhausting. Perhaps the consumer should look at the source of their information.
YOU are a servicer...how many short sales have you closed? How many homeowners have you helped to get out of their mortgage debt and move on with their…"
"Financial sheets are not standard...they vary by investor/servicer....and I will 100% disagree with Ron here - You absolutely want 3rd party representation - seek the best you can find. DO NOT look to your servicer for guidance. Your servicer…"
"Since I don't represent you and I do not know the details of which sheet you are completing I can't advise you specifically on that. Your real estate agent or lawyer can help you with your specific documents.
My answer is general in…"
"Ron - Its Minna, not Mindi...and if you actually read my response - you would see I also recommended he turn in all the documents....
However he is the borrower...not his wife. If his wife went for a new mortgage in her name alone, do you think they…"
"I wouldn't go hiding any bank statements now - that is fraud. Yes they will see that she has income - that doesn't matter.She's not responsible for your loan. You don't have to hide her income - it simply shouldn't be a…"
"Just once lately I'd like to hear about Fannie Mae making a sensible decision. Fannie Mae is a joke lately. This routine of multiple BPO's and ridiculous valuations is routine.
I can only imagine how low their short sale approval…"
"I have never once included a non borrowing spouse's income and have never once been asked to. If the spouse isn't on the loan, their income should be irrelevant.
I would submit the package with only your income documentation."
"Is anyone having any forward movement on these issues? My Fannie Mae issues are only getting worse as the year goes on. Now EVERY Fannie valuation is overpriced, and disputes don't seem to have much affect. If they revise their values at all,…"
"As I understand only the big banks (in the settlement) agreed to a standard $6,000 jr lien payoff when Fannie/Freddie holds the first. You don't state who the lender was before the loan was transferred to this LLC...but if it wasn't one of…"
"The lender is not a principal in short sale and has no responsibility to the sellers best interest. You represent your sellers best interest which is not sending every lowball offer to the lender to see if the buyer can get a great deal while you…"
"Why did she even move out? Unless she wants to move back in and establish occupancy ( time consuming) forget about the $3k and just close. Look at the big picture here. She's getting her morgage debt forgiven. Fighting over the $3k while…"
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