SPS is delaying short sales by using invalid valuations. The BPO reports show 2 different values:..current-30 days As-Is and, 90-120 days As-IS. They are countering the offer at the 90-120 day value…Continue
I have had many conversation over the last 10 years with agents that are contacted by companies that state the agent will get their full commission and the bank will pay the negotiation fee. I have…Continue
This was verified SHORT SALES AND DEEDS-IN-LIEU OF FORECLOSUREEffective September 1, 2019; however, Servicers may implement earlier if they are operationally ready to do soWe are revising our short…Continue
Reaching out to see if anyone has had experience with this servicer. They acquired loans from U S Bank in January and are trying to go through a whole home retention review even though U S Bank…Continue
As anyone dealt with any short sale lenders that will agree to pay the HERO tax assessment? Are lenders declining short sales due to the HERO being a "future" tax bill rather than a current or delinquent tax? Need responses
I was hired by the listing agent to save this short sale Franklin played their silly games. We offered $12,000.00 They countered back at $20,000.00 Buyer walked. Month and a half later obtained new buyer, whose offer was approved by and the first lien holder, and allowing $20,000.00 to Franklin. They came back and countered at$28,000.00 claim they have new guideline. That is a crock. This one will end up in foreclosure. Other than preaching to the choir, who can we reach out to stop…Continue
If you are in a real estate market that is going strong and values are increasing then this applies to you. My reliable sources have informed me that Fannie Mae will counter your offer above what their BPO or appraisal came in at.
As of November 1, 2013 they are instructing servicers to submit all offers to them where the net proceeds are less than what they have required They are stating that they want the sales price to be inline with how their REO's are handled.
Nationstar has taken the position that they will dictate to agents and if you don't like it they will just close your file. Agents need to join together and not accept the silliness of Nationstar. DO NOT ACCEPT 5% commission! DO NOT ACCEPT that they will not pay title insurance or any other state regulated fees. Recently they closed my file because I questioned why they required a separate letter on a LLC buyer's letter head their instruction said .....Continue