We are Jacksonville Real Estate professionals with Re/Max Unlimited in the Jacksonville, Jacksonville Beach, Ponte Vedra Beach, World Golf Village, St Johns and St Augustine Florida area. We specialize in helping buyers and sellers in short sales.
"I am negotiating a FHA short sale where the servicer (Kentucky Housing Corporation) owns the second mortgage. They are refusing to order the appraisal because they said they would get in trouble by FHA for ordering it when they know it is worth more…"
"FHA short sale with Wells. ATP for price of $181,500 issued on 3/1/17 and good through 6/29/17, fully executed by seller and confirmed in WFC hands. Now WFC says appraisal is no longer valid and new ATP is needed with new appraisal of $205,000.…"
"Having a situation with Carrington Loan Servicing where they seem like they do not want to move forward with a Short Sale after turning down a Loan Mod. We have been told but not in writing that due to the time in delinquency it would be…"
"Got that. So, if a PC is say $2,000 and the seller is eligible for relo assistance, then I guess the seller would receive $1,000. Is that right? Either way, this seller cost would be $3,000 or more, depending on the amount of the PC, so it looks…"
"In Mortgagee Letter 2013-23, the only disqualification for the $3k relo money that I see (assuming the seller has not already relocated) is sellers required to make a cash reserve contribution. Then the wording was updated in ML 2014-15. But maybe…"
Yah!!!! I agree with that one hundred percent, however too late someone else told them. Yes, your input is very helpful, that is how I feel across the board. I did contact their attorney and that is what he advised them to do :) Thanks so much Fiona
Dear Stephanie, in reference to HUD short sales. I have a client who owes $280k on his mortgage and his house is comped at $330. We have it priced as a non short sale at $319, tons of showings no offers, house needs some work and updating at that price. Someone suggested to him to stop paying his mortgage and short sell it at $279. Given the big difference in price I feel this would arouse a suspision with the bank (rightfully so) and suggest we drop the price in 30 day incriments by $10k if no offers, right now a $305k offer will break him even with no foreclosure on his credit. He refuses to and just wants to drop it so he can get out. Thoughts???
Hi Stephanie, Welcome aboard. You are officially our first Short Sale Superstar!! Wendy and I are here to help in anyway we can. Please bare with us as we build this site. Also, feel free to add any information related to short sales that you choose.
The official launch of ShortSaleSuperstars.com will be 1 August. We truly hope that this site will grow into the go to place for agents handling Short Sales. With all of us working together we can make a difference.
Thanks again. Please don't hesitate to contact us with any questions or suggestions to improve the site.
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