"@Robin Yes open a ticket. I open a ticket when I take an FHA short sale as it may take some time to get a ticket issued. Keep in mind that they do not have to be delinquent for a job relocation for owner occupied properties. Just has to be greater…"
"It is Wells Fargo. They are stating that this position is coming from FHA, but I haven't spoken with them yet. Just got this news this morning. It sounds like I need to open a ticked with HUD immediately."
I marketed a PFS for over 60 days and finally received two offers. We countered them to ask for highest and best and submitted the highest offer to the bank. It nets them 85% because their appraisal is high. They are now requiring an 88% net with no flexibility. They are also refusing to suspend the foreclosure sale date, which is two days from now, December 14, 2016. Here are some other facts about this transaction that may be pertinent.HUD did not issue an ATP, but instead required that…See More
Thank you for the work that you are doing on behalf of our industry. I personally have been benefitted by your knowledge and experience and I know others have too. I hope to have a positive update for you soon on that one we talked…"
I specialize in short sales in Tucson, Arizona. I have been negotiating short sales since 2006. In fact, I now have a team of agents to help with all the work that comes along with short sales. I'm here to network with other agents who are looking to help people avoid foreclosure.
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Well good luck to you Robin. At least Fannie should be a help and I would rely on them. Hopefully your clients are not too far behind in their payments because at 270 days late they just don't extend the trustee sale and they will foreclose.
Robin: I don't want to discourage you at all but.....read ALL the comments on this site before accepting this short sale with this lender. I am not the only one w/a bad experience - pretty much every agent who has attempted to "work" w/this lender ends up a frustrated mess. I myself personally would not take a short w/this lender ever again.
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