February 2011 Blog Posts (50)

I Have Mortgage Insurance. Won't That Cover the Deficiency?









The Stop Foreclosure Institute recently received a question from Max. Here is Max's Question.







"If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount? Max."







Discover how other sellers successfully did a short sale… Continue

Added by Bion Grady on February 8, 2011 at 6:08am — No Comments

SunTrust Issue

I hope this post finds you well.I have a question for all. We have been negotiating a short sale with Sun trust for over 10 months. We had previous approval at 1.125M, house originaly sold for 2.2M, Market fell so hard we went back to renegotiate and new BPO & appraisal both coming in at $760k. 2 months go by waiting for another final approval. We are assured it is forthcoming. Week after week, we are told the approval is going through and we should have it by the end of the week...call… Continue

Added by Daniel Harless on February 7, 2011 at 6:00am — No Comments

How much Do you Charge for a Short Sale?











The Stop Foreclosure Institute recently received a question from Tawny. Here is Tawny's Question.








"I have not been late on any payments but my income will be changing dramatically towards the end of the summer. What is your exact service and what are the fees involved? I do not have any cash in savings and pretty much… Continue

Added by Bion Grady on February 7, 2011 at 4:45am — No Comments

Two Short Sale Superstars Agents Work Together For Another Successful Bank Of America Short Sale.

Hi folks. I LOVE successful Short Sale closings. This one had a few issues but I was working with an awesome Buyer's Agent, Evelyn Broxterman, with Keller Williams in Lakeland Florida, she was able to keep the buyer on board for 6 months!! Evelyn is also one of our Short Sale Superstars.



The property:



4 bedroom 2 bath single family home located in Lakeland Florida. It was bought new in 2005 for $190,000 as an investment property.

Liens:



* Mortgage with Bank… Continue

Added by Bryant Tutas on February 6, 2011 at 3:07am — No Comments

Sun Trust Bank agreed to short-sale

Hi,

I'm seeking relief after the fact.  Please bear with me.  I contacted Sun Trust  seeking advice prior to submitting an application for Short - Sale to help with modifying my 1st and  2nd trust with them.  I was advice by Sun Trust staff to STOP making loan payments and submit an application for a short-sale since I would not meet the criteria for a modification.

 

I did everything to the letter.  Nine months later a letter of approval arrived for both the 1st and 2nd…

Continue

Added by Nikki Miller on February 5, 2011 at 11:18am — No Comments

What to expect during and after the Short Sale process

Here are a few things you should not be surprised to see crop up during the short sale process.







Unscruplous Debt Collection Tactics. If you are facing financial hardship, then paying credit cards and other unsecured debts is your lowest priority. An unsecured debt is a debt where they can’t take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of… Continue

Added by Bion Grady on February 4, 2011 at 4:34am — No Comments

Glendale Short Sales: How To Convince A Lender To Waive A Promissory Note!

 

Glendale,  CA Real Estate – Some lenders are very stubborn about collecting what they feel they are “rightfully owed.”

 

 

These…

Continue

Added by Jennifer Escobar on February 3, 2011 at 9:21am — No Comments

Relocation Grants are For Relocation

I write a blog about various interesting tax issues.  Several of my posts have been about short sales.  Below is the most most recent development

 

CCA 201102058

 

Last month I wrote a post about IRS allowing that a carve-out by a lender for transfer taxes does not create equity in…

Continue

Added by Peter J Reilly CPA on February 2, 2011 at 5:00am — No Comments

Don't Sweat it if the First Time Buyer gets impatient and walks off







Short Sales can be frustrating. It can take a long time for the lender to process everything and finally give the buyer an answer on their offer.







Oftentimes, by the time the lender makes a decision, the buyer has gotten impatient and moved on to another property.







Most lender short sale departments are overworked. That is why it… Continue

Added by Bion Grady on February 1, 2011 at 9:07am — No Comments

VA Compromise Short Sale Changes Help Crestview, Navarre Florida Homeowners

 

If you are a borrower with a VA home loan in Crestview, Navarre, Fort Walton Beach, Florida and surrounding towns, and are having trouble paying your mortgage, there is good news for you. The Veterans Administration…

Continue

Added by Wendy Rulnick on February 1, 2011 at 6:28am — No Comments

Monthly Archives

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************