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Law

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Indymac

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HAFA - Home Affordable F…

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Wells Fargo Short Sales

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Sam Purtle's Discussions

Realtors Not Taking Short Sales if the price is too low

Virginia Email Mike Milazzo at Excalibur Properties - mmilazzo3@cox.net or call him at 602-571-6889 (if the property is in Avondale as it looks like your earlier posting indicated). Mike is highly e…

Replied May 21

REO or BPO

Sima A company which sells an automated BPO system has a great directory of all the companies which perform BPOs for lenders. Some are also asset managers who handle REOs. Hope it helps

Replied Mar 18

Nationpoint & First Franklin

Mary In all my years I have never seen where a 1st has a 40K lien and and 2nd has $159K. Are you sure? there might be an subordination filed. Liens are superior by recording date and time. I would d…

Tagged: short, sale, balloon, ARM, Franklin

Replied Mar 2

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Sam Purtle's Page

Latest Activity

Sam Purtle replied to Sylvia Barrenechea's discussion 'Can LLC be the the "buyer"' in the group Equator

Sylvia All LLCs have a managing member or members. One or both managing members need to be entered as the purchaser - ie. social security and dates of birth, etc. in the initial short sale offer worksheet. Copies of the articles of incorporation wi…

May 29

Sam Purtle replied to Wendy Rulnick's discussion 'Who Has Equator Certification?' in the group Equator

I agree - why waste the money...

May 21

Sam Purtle replied to John Edelman's discussion 'Delinquent property taxes' in the group Help Me!

John This so called "expert" does not know what he is talking about. It is solely at the lien holders discretion whether or not to pay the delinquent taxes. In all the short sales I have handled (and that is a lot) I rarely run into an issue with t…

May 21

Sam Purtle replied to Virginia Reddy's discussion 'Realtors Not Taking Short Sales if the price is too low'

May 21

Sam Purtle replied to Monica's discussion 'BOA Approved Short Sale - Closing Date Inquiry' in the group Bank of America Short Sales

Monica It is highly unlikely that BofA would approve a short sale without stating a closing date. The approval letter (otherwise known as a short sale demand letter) will spell out the terms of the transaction. It usually states the purchase price,…

May 21

Sam Purtle replied to Dawn Barrier SFR®,CSP®,HRC's discussion 'Has anyone been successful in getting BOFA to rescind/reverse a foreclosure while it was in short sale review?' in the group Bank of America Short Sales

My two cents: 1. Something has to be done about this crap. Why are we helping out Bank of America by sending them short sale offers if they refuse to work in good faith? Over and over again it is the same story. Short Sale Demand Letter is received…

May 14

Sam Purtle replied to Kenneth Skidmore's discussion 'Seconds' in the group Bank of America Short Sales

If Chase will not allow more than $1200 then you have several choices: 1. Ask Chase if the purchase price were to be increased by the difference ($3800 although I would increase by more to compenasate for the additional closing costs such as commis…

May 14

Sam Purtle replied to Laurie Clark's discussion 'BofA Approved Short Sale now it Foreclosed and Freddie won't Rescind' in the group Bank of America Short Sales

Laurie Unfortunately Bank of America pulls this kind of crap all the time and they think they can get away with it. Darlas message above is simply incorrect in that even though the lender has sold the property at auction and recorded a trustee's de…

May 14

Sam Purtle replied to Jeanette Becker's discussion 'Bank of America contact numbers' in the group Bank of America Short Sales

Nina - Thanks for sharing the form and email. Much appreciated

May 10

Sam Purtle replied to Tina Maldonado's discussion 'We are a Law Office. How do we get Equator to accept our legal fees on the settlement? HELP' in the group Equator

Dave Well said and I agree completely. If Bank of America wants to stave off the tide of foreclosures they need to more agressive with short sale acceptance. Let us hope things change for the better. Sam

May 5

Sam Purtle replied to Roger's discussion '6 Month Short Sale, Negotiator asked me to get an approval for the second and now closed the file, Need to speak with Supervisos' in the group Bank of America Short Sales

Roger This type of stuff happens all the time with BofA. The one positive is that if you set the short sale up in Equator, you should be able to request a postponement to the foreclosure date by calling BofA's short sale support line several days b…

April 29

Sam Purtle replied to MD's discussion 'What can I do to help the BoA Shortsale process?' in the group Bank of America Short Sales

MD Bank of America does encourage phone calls and this site is full of examples of agents taking a proactive approach to short sale negotiations. Whether the short sale is being processed through normal channels (for VA and FHA, and other loans whe…

April 24

Sam Purtle replied to Rachel Diedrich's discussion 'MERS and short sale' in the group Wells Fargo Short Sales

Rachel MERS has nothing to do with the short sale - MERS is an abbreviation for Mortgage Electronic Registration System and this a computerized database which tracks who owns a particular loan and alleviates the need to constantly record assignment…

April 23

Sam Purtle replied to Tim Harrison's discussion 'B of A BPO Outrageous' in the group Bank of America Short Sales

Tim Wow what a nightmare. A lot of BPO agents in my area are in it for quantity not quality and I think that all of us have had a deal go south over an incorrect BPO value. It is one reason the listing agents should always meet the BPO agent and pr…

April 22

Sam Purtle replied to Steven Jackson's discussion 'Fees charged to buyers' in the group Law

Here is my two cents... There are a multitude of short sale negotiators out there and there are a multitude of ways they can be compensated. Here are several that I have come across... 1. Listing agent takes the short sale listing and negotiates th…

April 22

Sam Purtle joined Wendy Rulnick's group

Law

Links and Information about the Legal Aspect of Short Sales. Not a subsitute for legal advice.

April 22

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