Ro Reed
  • Female
  • Akron, OH
  • United States
  • Ohio
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Ro Reed's Discussions

PFS rules on vacant condo?

Started this discussion. Last reply by Ro Reed Jan 24, 2014. 2 Replies

I need clarification on PFS rule changes: condo, Dad purchased in 2005 with his daughter, she was transferred out-of-state and they couldn't sell so they obtained a land-contract buyer.  He has been…Continue

Tags: VACANT, GUIDELINES, CONDO, SALE, FHA

 

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Ro Reed joined Wendy Rulnick's group
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Green Tree Servicing

All about Green Tree short sales.See More
May 7, 2015
Ro Reed replied to Helena Kaucheck's discussion Altisource and Ocwen in the group OCWEN
"Here's my one warning about hubzu:  they will tell you that, if no one bids on the property your buyer's offer is accepted...rubber stamp approval.  Not true.  Instead, after they finally get around to putting the auction…"
Aug 6, 2014
Ro Reed commented on James ferebee jr's group OCWEN
"Agreed Thom and Jeff...never again with Ocwen.  I had a nightmare with a hubzu in June (wound up going to Sheriff Sale... I never lose 'em!)  and now I am getting weekly phone calls from a guy we refer to as my Pakistani boyfriend.…"
Aug 6, 2014
Ro Reed replied to Darren Bell's discussion hubzu and auction.com
"I'd like to know how they manage.  I fought for almost a month but finally relented. Then it took them nearly another month to upload it, but once the auction ended with no other bids within a week they sent the closing package.…"
Jun 18, 2014
Ro Reed joined Mayra Espinosa CDPE, HAFA, SFR's group
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SPS Select Portfolio Servicing, inc

For Short Sale - OverviewHomeowners interested in pursuing a short sale, can call 888-818-6032 to speak with a Loan Servicing RepresentativesTo speak to a Loan Servicing Representative to Help you with answers to your questions regarding the status or history of your account call please call 888-818-6032Representatives are available Monday through Thursday from 8:00 AM to 11:00 PM, Eastern Time.Friday from 8:00…See More
Apr 21, 2014
Ro Reed replied to Jim McCormack's discussion Anyone successful in getting Ocwen to waive the Altisource / Hubzu Online Auction/Marketing System in the group OCWEN
"Hi, Jim.  I was actually referencing the comment made by TOP END Properties on March 14, 2014 at 4:53am which said it usually only lasts one week.   I wholeheartedly agree that one week is NOT the norm.  I am reading over the…"
Mar 31, 2014
Ro Reed replied to Norvant Admin's discussion OCWEN/ALTISOURCE/HUBZU DEBACLE in the group OCWEN
"Aside from having an issue with the whole OCWEN/HUBZU/Altisource co-mingling, needing to tie up a property for  likely over a month is good enough reason for me.  This listing was marketed for 50 days, with 26 showings before we got this…"
Mar 28, 2014
Ro Reed replied to Jim McCormack's discussion Anyone successful in getting Ocwen to waive the Altisource / Hubzu Online Auction/Marketing System in the group OCWEN
"While you note it "usually only last for 1 week"  after pushing the HUBZU rep for a timeline on the actual amount of time we would be wasting he said:  docs would be received within a day or two, if we return immediately we could…"
Mar 28, 2014
Ro Reed commented on Wendy Rulnick's group Help Me!
"Last ditch effort here:  short sale mismanaged by previous agent, languished for 18 months. Took over second week of Feb. with Sheriff Sale date 03/07/14. Got an offer, submitted, lender (First Merit) came back with Fannie's required net…"
Mar 25, 2014
Ro Reed joined Wendy Rulnick's group
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Help Me!

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Mar 25, 2014
Ro Reed commented on Bryant Tutas's group Fannie Mae
"Last ditch effort here:  short sale mismanaged by previous agent, languished for 18 months. Took over second week of Feb. with Sheriff Sale date 03/07/14. Got an offer, submitted, lender (First Merit) came back with Fannie's required net…"
Mar 24, 2014
Ro Reed commented on Stephanie Lim's group FHA - HUD Short Sales
"Thanks, Guerry.  Of course, in the end, (after all the time I invested researching, on hold with HUD)  he has decided not to go the short sale route and sell it conventionally (bringing the money to the table).... with a friend who is an…"
Feb 25, 2014
Ro Reed replied to Ro Reed's discussion PFS rules on vacant condo?
"Thanks for the response, Bryan.  However, he has never been late and has excellent credit.  That's why I wondered if anyone could see a way around that. "
Jan 24, 2014
Bryant Tutas liked Ro Reed's discussion PFS rules on vacant condo?
Jan 24, 2014
Bryant Tutas replied to Ro Reed's discussion PFS rules on vacant condo?
"It can be vacant. It used to be it could only be rented for about 12 months that's not the case anymore. New guidelines state: Mortgagees may approve a mortgagor for a Streamlined PFS or DIL without verifying hardship or obtaining a complete…"
Jan 24, 2014
Ro Reed posted a discussion

PFS rules on vacant condo?

I need clarification on PFS rule changes: condo, Dad purchased in 2005 with his daughter, she was transferred out-of-state and they couldn't sell so they obtained a land-contract buyer.  He has been paying 6 years but just lost his job. They are not allowed to rent these condos now.  Dad has never been late, would like to short sell, but was told he needed to be occupying.  As I read the rules it seems we won't be able to get him into the PFS program: non-occupant, not delinquent, doesn't have…See More
Jan 24, 2014

Profile Information

First Name
Ro
Last Name
Reed
Are you a...
Agent
State
Ohio
City
Akron
My Profile
REALTOR®-RE/MAX Crossroads, Fairlawn
SFR-Short Sale and Foreclosure Resource
CDRS Elite-Certified Default Resolution Specialist

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At 8:47am on November 14, 2011, Anna "Banana" Kruchten said…

Rosemary - I sure hope the added staff makes a difference.  After reading many comments and none that were positive I knew the clients needed to know the 'real deal'.  I felt like a Bad Santa gving out bad news and gifts.  The client says back to me....so will we close by Christmas?  I looked at him and asked him 'what year'?  They both laughed as did I!! So they're cool and calm with this (for now) and ready to move on if need be at some point.

 
 
 

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