All Blog Posts (2,096)

Nationstar is now Mr. Cooper!

Nationstar is now Mr. Cooper! They do have a new Mr. Cooper letterhead authorization letter and they are still utilizing equator. Nothing internally has changed to our understanding of the short sale process for now. This was a move to re-brand the company.

[email protected]

310-564-6389

www.ishortsalenow.com

Added by Brett Goldsmith on September 12, 2017 at 8:45am — No Comments

HUD lien junior to the first mortgage.

We had a surprise just before closing on what we thought was a traditional sale.  We found out the seller had a loan modification in 2015 that include and $80,000 junior lien from HUD. This made the payoff about $20,000 short to close and HUD would have to agree to take $60,000 to $65,000 and release the lien and note. According to the seller's attorney, HUD doesn't negotiate.  I don't believe that because after 500+ closed short sales I've never experienced a lender that would not work with…

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Added by Edward Goldfarb on July 18, 2017 at 1:47pm — 4 Comments

Approval Problems

Has anyone been having an even more difficult time getting the approvals over the last 4-5 months than usual?  Seems like lenders are holding back since the market has gotten better or is it just me? 

Added by Kathy Moore on July 7, 2017 at 9:57am — 1 Comment

Bayview Financial

Does anyone have a n escalation contact at Bayview? They are refusing to look at my offer and stop at an auction which is scheduled for July 18, stating there is not enough time to stop it.

Added by Donna Perry on June 23, 2017 at 4:23pm — 3 Comments

Ditech

Just initiating a short sale with Ditech with Ginnie Mae as the investor. Trying to see if I need to start off the jump escalating anything to at least get off on the right track...   Does anyone know if the servicer will pay for a short sale processor..? Thanks

Added by Robert on April 25, 2017 at 9:00am — 2 Comments

Shellpoint

Been working a short sale with Shellpoint as the first for over 2 years.  Wells Fargo as the second.  1mil a piece owed on both.  Wells, 2nd removes their lien and will issue 1099.  Shellpoint has been playing games with the file and now on the 4th processor.  Give them everything they requested, for the 12 time, and now tell me their foreclosing.  Any suggestions??

Added by Rick Houser on February 9, 2017 at 12:21pm — 2 Comments

TRINITY ASSET MANAGEMENT LLC

Looking fir a 2nd lien which was Service released to Trinity Asset Management LLC in Jacksonvill FL, the company was closed in 2009 , any clues of where should i look ?

 

Added by Oz Rabinovitz on January 4, 2017 at 2:28pm — 2 Comments

Wells Fargo Mortgage Transferred to Rushmore

Wells Fargo issued a short sale approval about 30 days ago. When the title work was updated we found out the mortgage had been transferred to Rushmore. I thought for sure we would start completely over. Thanks to a rep by the name of Diego he made it happen! Just received updated approval before Christmas. We are closing this Thursday the 29th!

I look forward to helping more homeowner's - short sales are for the greater good. 

Let's keep em closing. 

Added by Kristen Warren on December 26, 2016 at 7:20pm — 2 Comments

Short Sale Processing Support

Why Use A Short Sale Processor?

“No one can whistle a symphony. It takes a whole orchestra to play it.” 

Some agents will not touch a short sale file without their processor(s) and others are scared to relinquish any control whatsoever. We come across a mix of both and find that once an agent has a processor who adds enough value to their business they will never turn back.

A processor should know 10X than you about short sales and everything that goes into…

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Added by Brett Goldsmith on December 13, 2016 at 3:13pm — 1 Comment

BOK Financial

I have a  short sale signed up out of Tulsa OK for the Bank of Oklahoma. Part of BOK Financial Corp, BOKF, which operates seven banking divisions: Bank of ArkansasBank of AlbuquerqueBank of ArizonaBank of Kansas City,…

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Added by Vincent Donaldson on September 21, 2016 at 9:08pm — 1 Comment

Investor says Short Sale is No longer an option...

Anyone see this? Suggestions?

Check to see if the short sale has been set-up for the new buyer. She said they received documents however the investor is putting in a restriction on the file for a short sale and the available options are Deed-in Lieu , SPS modification and Repayment Plan. She said there is nothing that SPS can do to lift the restriction. And so I asked for the name of the investor on the file and she said she will send in a request for the investors name to be sent…

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Added by Robert A. Carrino on August 25, 2016 at 8:20am — No Comments

Wells Fargo - Short Sale Rejected - Looking For Suggestions

After dragging my short sale request out for almost ten months on a 3 family house, and after telling me they were going to order an appraisal they rejected my short sale request.  The reason they gave me "Occupancy or Rented more than 18 months PFS/DIL requirement not met".  Its a BS reason. 

I am fighting it through the executive escalation team.  Unfortunately because of my job I cannot miss payments on the mortgage to pressure the bank.  This property is ruining me financially and…

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Added by James Faulkner on August 22, 2016 at 5:55am — 3 Comments

Beaumont, California Short Sale REALTORS - Helping People with the Short Sale Process

Realtors in Beaumont

Beaumont, California Short Sale REALTORS - Helping People with the Short Sale Process

Are you under-water on your Beaumont, California home? Have you experienced a hardship that has made paying your mortgage difficult or impossible? We can help you. Whether you occupy the home, its vacant or a rental, we…

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Added by Garrigus Real Estate Group on July 15, 2016 at 10:30am — No Comments

Fannie Mae1st is made whole +, Will they pay more than $6000 to 2nd

I have a fannie mae 1st and a Wells Fargo 2nd. If the 1st is made whole plus more, can the first apply the overage to the 2nd above the $6000?

Added by Robin Lemmons on June 14, 2016 at 7:44am — 1 Comment

Reverse Mortgage Short Sale

Hello everybody:

I just got a listing on  a  Reverse Mortgage Loan and I will have to do a short sale because the owner owes more than the house is worth.  We are short by 20k. Does anybody here has done a short sale where the loan is a Reverse Mortgage?

Is the process the same as a regular Short Sale? Thanks,

Added by IRMA KNIGHT on May 6, 2016 at 4:30am — 1 Comment

Di-Tech/ Green Tree Lending Servicing

Has anyone every work ever worked with Di- Tech/ Green Tree Lending Servicing.

 

 

 

This is my first short sale and I always find it amazing how some short sales are approved and others are not.

 

 

 

 

Respectively,

 

 

Michael

 

703 825 9579

Added by Michael L on April 21, 2016 at 2:24pm — 1 Comment

4 Hubzu Listings Removed for Encumbrance House on My Land

Layman, here.  I don't do real estate. But I have recent experiences that some of you might want to know about.

Since Nov. I have had Hubzu to remove  listings for an encumbrance modular home that rests on my land, on not one, not two, not three, but four occasions. Finally, Hubzu  has corrected the listing to represent their land only. But if I had not searched the address when I saw signs of renewed activity at the house. I would have an unwelcome family living in my…

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Added by Pamela H. Kinzey on April 5, 2016 at 12:59am — No Comments

Cold Calling Short sale Script

Hi does any one have a Script for Short Sale when cold calling?

Added by Gerry Pagano on February 23, 2016 at 2:46pm — No Comments

Homes for Heroes

Homes for Heroes in Wisconsin!

Homes for Heroes is a national program dedicated to providing extraordinary savings to heroes who provide extraordinary services to our community each and every day, when they buy or sell a home.

Who Qualifies?

-Active…

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Added by Michael Collins, CDPE, SFR on February 18, 2016 at 6:54am — No Comments

US Bank - VA loan

I am working with an active duty airman who is trying to get approved for a short sale through US Bank.  We have been working towards this since July.  We have the house in contract and cannot get further than the "in review" stage.  We've been through 5 relationship managers and still nothing.  VA is the investor.  Is there anything else I can try.  I've called and spoken to anyone that will help.  The last time the file was reviewed was Jan. 25th.  They did a liquidation appraisal back in…

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Added by Christine Lance on February 8, 2016 at 3:59pm — 1 Comment

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