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…Continue
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?
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
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??
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 ?
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.
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…Continue
Added by Brett Goldsmith on December 13, 2016 at 3:13pm — No Comments
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 Arkansas, Bank of Albuquerque, Bank of Arizona, Bank of Kansas City,…Continue
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…Continue
Added by Robert A. Carrino on August 25, 2016 at 8:20am — No Comments
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…Continue
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…Continue
Added by Garrigus Real Estate Group on July 15, 2016 at 10:30am — No Comments
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?
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,
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.
703 825 9579
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…Continue
Added by Pamela H. Kinzey on April 5, 2016 at 12:59am — No Comments
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 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.Continue
Added by Michael Collins, CDPE, SFR on February 18, 2016 at 6:54am — No Comments
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…Continue
ARE SHORT SELLERS STILL GETTING THE SAME $10K RELOCATION AND HOW MUCH SHOULD I OFFER TO SECOND MORTGAGE ON THIS CASE. BIG THANKS FOR YOUR COMMENTS!
Added by wally pelaez on January 12, 2016 at 1:55pm — No Comments