Providing you with the knowledge and tools needed to succeed with Short Sales.

Tracey Martin: Share; Share on Twitter; Share on Facebook

Blog Posts (2)
Discussions
Groups (7)
Videos

Tracey Martin's Apps

Tracey Martin's Friends

View All

Tracey Martin's Groups

Short Sale Referrals

345 members
AHMSI

78 members

HAFA - Home Affordable F…

242 members
Indymac

180 members

Wells Fargo Short Sales

422 members

View All

Tracey Martin's Page

Latest Activity

Tracey Martin left a comment for Lala Petrosian

May 28

Tracey Martin joined Wendy Rulnick's group

Short Sale Referrals

Post your referral needs here! Join this group to be automatically notified of new referrals for listings or buyers!

May 28

Tracey Martin joined MeLisa Minter's group

AHMSI

Short Sales with American Home Mortgage Services ces...servicing former Option One clients

April 22

Tracey Martin joined Rosemary Brooks's group

HAFA - Home Affordable Foreclosure Alternative

Let's get this group going to track how this program is helping homeowners avoid foreclosure. Participating Servicers:htt ???/Ans:

April 22

Tracey Martin replied to Erin M Booher's discussion 'Short Sale Denied! Equator Transition Coincidence, or True FNMA Incompetence' in the group Bank of America Short Sales

I think that Fannie Mae short sales will get denied more often in the coming months because of the Fannie Mae Home Path lending program. We get a lot of Fannie Mae foreclosures in our office. Almost every one has a listing price which is more than f…

April 15

Tracey Martin joined Stephanie Lim's group

Indymac

Information on Indymac short sales. Tips, tricks, etc.

April 14

Tracey Martin replied to Keli Amparan's discussion 'LA entered wrong counter amount!' in the group Bank of America Short Sales

If the buyer did not sign anything stating that they would pay the countered price even if the property does not appraise, I would advise them to move forward. Once the appraisal comes in, and it is less than the approved amount, get a copy of it an…

April 14

Tracey Martin joined Wendy Rulnick's group

Wells Fargo Short Sales

Wells Fargo and ASC (America's Servicing Company) tips, tricks, references and experiences!

March 30

Tracey Martin replied to Sugarcicle's discussion 'Under contract, but still accepting offers??' in the group Bank of America Short Sales

I agree with Judy. Any offer accepted after the first offer is signed by the seller should be treated as a back up offer. The HOA lien should have been included on the HUD. There is no guarantee that B of A will pay it, but it never hurts to ask. In…

March 30

Dominique Van Ryckeghem replied to Tracey Martin's discussion 'Time line before short sale client can purchase again.' in the group Bank of America Short Sales

The way I understand it is that a short sale homeowner can get financing again after 2 years for conventional financing and 3 years for FHA. I'm sure a certain credit score minimum is going to be one of the requirements (like min 620 for FHA), but I…

March 2

Tracey Martin replied to Kevin Coffey's discussion 'Client is current on payments, but relocated out of state. BofA declined...' in the group Bank of America Short Sales

Tell your client what you were told and give her the options. She can continue to pay and have no chance at a short sale or she can stop paying and re-apply for a short sale. Be very careful not to tell her what to do. Give her the options and let h…

March 1

Dominique Van Ryckeghem replied to Tracey Martin's discussion 'Time line before short sale client can purchase again.' in the group Bank of America Short Sales

February 22

Tracey Martin replied to Dave Halpern's discussion 'Contacting The Bank Of America Short Sale Executive Matt Vernon?' in the group Bank of America Short Sales

I have a really difficult time understanding why the banks do not see us as "allies in mitigating their losses." Why can't they understand that by not considering the short sale Realtor part of their "team," they are causing greater losses. It blows…

February 18

Tracey Martin replied to Terrie Leighton's discussion 'Bank of America waiving future deficiency judgements' in the group Bank of America Short Sales

It has been my experience that B of A will not forgive the deficiency in writing. Does your client meet the general requirements for HAMP? It is my understanding that B of A is participating in HAMP which means they have to participate in the govern…

February 18

David Dee replied to Tracey Martin's discussion 'Time line before short sale client can purchase again.' in the group Bank of America Short Sales

Laura, just curious which lender have you used that has been able to do this?

February 18

David Dee replied to Tracey Martin's discussion 'Time line before short sale client can purchase again.' in the group Bank of America Short Sales

Dominique, not to take anything away from what you've stated but I've gone to seminars where the same thing has been said. I asked for testimonials and they could not provide to me proof of such 'outstanding' results being claimed. For this matter,…

February 18

Profile Information

My Profile

I am a certified short sale specialist and pre-foreclosure specialist. I close more than 50% of my short sales. I feel the key is getting a fair market value offer and a patient buyer.

Tracey Martin's Blog

The HAFA program is the government's new short sale/ deed-in- lieu program. The government created t…

The HAFA program is the government's new short sale/ deed-in- lieu program. The government created the program in an effort to assist homeowners who can no longer afford their home and who want to avoid the damage a foreclosure does to a borrower's credit. The following is my understanding of the program guidelines as presented in the MAKING AFFORDABLE Supplemental directive 09-09.
The federal government has asked lenders to voluntarily implement a new program called Housing Affordable Foreclosu… Continue

Posted on December 31, 2009 at 9:00pm —

Are attorneys too quick to advise on a short sale?

I am not an attorney and even though I do not give legal advice, I owe it to my clients to have a basic knowledge of the legal aspects of a short sale. If I am informed I can tell them what questions to ask their attorney.
Even though I may disagree with some advice they give, I know I cannot argue against an attorney’s advice because that would be, in fact, giving legal advice.
However, I often feel that some attorneys are too quick to advise clients to let the bank foreclose on recourse loans.… Continue

Posted on September 16, 2009 at 1:02pm — 2 Comments