Russ Trinidad
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  • Honolulu, HI
  • United States
  • Hawaii
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Russ Trinidad's Discussions

1099 Investor HAFA short sale May 2013 with OCWEN - Please help.

Started this discussion. Last reply by Brian Avery Jan 30, 2014. 1 Reply

I closed an Investor HAFA short sale May 2013 with OCWEN. It was approved HAFA because the seller is a retired Military Vet. The sellers just received a 1099 for $100k for the principal short amount.…Continue

Tags: mortgage, debt, canceled, for, Tax

Duel Tracking - Nationwide?

Started this discussion. Last reply by Ron Scribner Jun 27, 2013. 2 Replies

Hi, this might be a silly question but is the New Duel Tracking (Homeowner’s bill of rights) law Nationwide or just in CA? Do you know if it applies only once you have a short  sale or modification…Continue

BOA normal approved closing fee’s.

Started this discussion. Last reply by Russ Trinidad May 13, 2013. 6 Replies

Hi im getting ready to start a BOA short sale. This property has 3 owners on title and 1 of which is deceased. Title was held as Joint Tenants. My question is does anyone know if BOA will pay for the…Continue

Out of state investor HAFA eligible? Why?

Started this discussion. Last reply by TOP END Properties Feb 27, 2013. 3 Replies

Hi I have an out of state investor that might get HAFA approval. I really don’t know the benefits of a non-owner occupied seller going HAFA. Please help.Continue

 

Russ Trinidad's Page

Latest Activity

Russ Trinidad replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"Very sound advice. Although I like a good challenge, this one might be more then I can chew. Thanks everyone! "
Wednesday
ElizabethWeintraub00697006LyonRE replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"My initial reaction is I would not touch this. I imagine the lawyer did not comply with the California Home Sales Equity Act as required when a property is in foreclosure and most likely did not give the owner adequate paperwork to sign nor respect…"
Wednesday
Brett Goldsmith replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"The biggest challenge is the 3rd and 4th lien due to non borrower cooperation. If the "friend" is the borrower of the 3rd and 4th then they likely need to provide financials and/or sign off on those short sale approval letters. Without…"
Wednesday
Brett Goldsmith replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"When a mortgage debt is discharged through a ch 7 the lien still remains on title. If the lien is on the property then the debt must be settled to release the lien from the property. Typically ch 7 do not strip subordinate liens. If it was a ch 13…"
Wednesday
Russ Trinidad replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"Thank you all for your comments and guidance. I know the "Friend" is no longer reachable. My client (Seller) has tried to contact them to help get it straighten out but to no avail.  As far as the title changing from person to…"
Wednesday
Thom Colby CA Brkr 888-391-5245 replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"When the property was Quit Claimed to the "friend / tenant" did the owner sign that Quitclaim Deed?  I think the bigger concern with this transaction will be Fraud - specifically Mortgage Fraud, Fraud for Housing, etc. If the seller…"
Wednesday
Elliot Ambalo replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"Russ, Brett brought up a very important factor that I forgot to mention. You need the cooperation of the "friend" otherwise how will you get authorization to the servicing company? Brett, "A ch 7 won't make it so you don't…"
Tuesday
Brett Goldsmith replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"Russ, you need to settle all liens on title. You likely need the "friend" to cooperate if they are the one who pulled out the other notes and the servicers may need their financials. I'd be exploring that before spending too much on…"
Tuesday
Elliot Ambalo replied to Russ Trinidad's discussion Messy Foreclosure defense. 4 liens on property! in the group NationStar Mortgage
"First of all is the property worth it to roll your sleeves up to do all this work? Because from what you are mentioning, this wont be that simple. Yes & No, on the short sale applications from Mr. Cooper & the standard 710 & RMA asks if…"
Tuesday
Russ Trinidad added a discussion to the group NationStar Mortgage
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Messy Foreclosure defense. 4 liens on property!

My client (Seller) originally bought a home with a 1st and 2nd mortgage with CMG Financial in 2006. The mortgage started slipping away from him so he entered a foreclosure defense agreement with an attorney in California, this was the advice given to him from a friend. This friend agreed to pay the attorney if she could live in the property. A year or so after she moved in, she stopped paying the attorney. The attorney quick claimed the property to the Friend. The friend took out 2 loans…See More
Tuesday

Profile Information

First Name
Russ
Last Name
Trinidad
Are you a...
Agent
State
Hawaii
City
Honolulu
My Profile
Prior to starting Pacific Realty Ventures Russ was in the Computer field. He worked as a Network Analyst Supervisor for 10 years.

Russ has been in the Real Estate and Lending industry since 1990 years now and brings an abundance of experience to the industry. He is a Certified Distressed Property Expert (CDPE) and Broker Price Opinion Resource (BPOR).

Russ enjoys all types of sports and is involved with many sports activities such as, racquet ball, beach volleyball, surfing, sky diving, bungee jumping, paint ball, river rafting, snowboarding, and mountain biking. Russ is also very family oriented and spends most of his time with two children and wife when he is not at work.

Russ Trinidad's Blog

Auction has completed. Can I still sell the property in a short sale?

Posted on August 14, 2013 at 6:05pm 2 Comments

The auction completed yesterday (8/13/2013) and the bank (BOA) was the only bidder. The commissioner said it will take 30-45 day’s for the sell confirmation hearing.  

 

Does anyone know if I can still initiate the property for short sale in equator or do I chalk this one up as a loss?

 

Thanks in advance for your comments.

BOA Escalation Help! Auction is 8/23/2013.

Posted on August 9, 2013 at 3:35pm 3 Comments

Escalation help!

I have a Bank of America short sale that I initiated and uploaded the offer in Equator on 7/20/13. It is in “Held under Review” status. The commissioner told me that the auction is moving forward on 8/23/13 because it is not in “Closing Status” in equator. The Asset Manager assigned is Carlton Smith with REDC. I have tried to escalate to Short Sale Customer Service but they said that the Negotiator needs to push the offer through. I do not get any response from the…

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