March 2013 Blog Posts (40)

Spring is in the air......a​nd buyers are ready to pounce!!!!

This past Saturday was an absolutely wonderful day to meet with my buyers as they chose their lot and selections for their new construction home. The weather was perfect, the birds were humming, and Spring was definitely in the air.

I'd been talking with the On-Site Agent and she'd been telling me about how they've had an influx of buyers in the community wanting to either purchase their existing inventory or build a new home and they were all complaining of the same phenomena.....very…

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Added by Vanessa Calhoun on March 11, 2013 at 5:08am — No Comments

NEWSLETTER: BofA Short Sale: NEW HUD Guidelines

 

Good morning Superstars.

Here's a sampling of this week's Superstar discussions.

Discussions Replies…
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Added by Bryant Tutas on March 10, 2013 at 1:00am — No Comments

Did You Try to Short Sale Your Home in New Jersey and It Did Not Sell?

My name is Carl SanFilippo, Realtor®, Certified Distressed Property Expert: I’m sorry to hear that your house has expired from the Multiple Listing Service (MLS) without a successful sale. I realize that can be frustrating, but please do not give up hope...

Given my background, I strongly believe that I can help you!

 

First, there are typically 4 main…

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Added by Carl SanFilippo on March 9, 2013 at 2:41am — No Comments

need advise

I have tried to sell my one bedroom 600sq ft., basement condo for two years.  First year I tried to sell for the amount owed, second year I attempted a short sale.  Was unable to get rid of it either way.  During the sale process the buildings HOA began charging 5,000 dollars assessment fee in addition to the maintenance fee because the builders that renovated the building did a poor job on the roofing and hence there was leakage into the building and some apartments.  long story short,…

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Added by Denise Alba on March 8, 2013 at 10:40am — 2 Comments

Ahhhhh....​..The Lovely World Of Short Sales (Will the saga ever end)????

UGH!!!!! Well, one thing's for certain.....we're never at a loss for drama in the world of short sales. I was just speaking with another agent on yesterday who was telling me about her short "sellers" who stopped the transaction a week prior to closing! The listing agent had fully ss approval with a waiver of liability, the buyer's loan had been fully approved through underwriting, and they were just waiting for the closing date to arrive. The Seller's determined that they were not yet ready…

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Added by Vanessa Calhoun on March 8, 2013 at 5:13am — No Comments

Another Pendulum Shift......Now, if I could only find a home!!!

As with most markets across the Country, Coweta County is experiencing a sort of unique market condition. What's that??? WE HAVE MANY, MANY MORE BUYERS THAN WE HAVE PROPERTIES TO SELL TO THEM!!!! Now, don't get me wrong..this has created a beautiful scenario for those who are looking to sell their homes. Demand is up and supply is down! The perfect economic dilemma!!!  

I know that this scenario is pretty difficult for some buyers to believe, but it's the God honest truth! The fact…

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Added by Vanessa Calhoun on March 7, 2013 at 9:06am — No Comments

From a Buyer's Perspective

Hello everyone. Mine will probably be a quite different blog from what you are used to seeing. I am a first time short sale buyer - not an agent, not a seller, and not an investor (per se), although this will be an investment property. I have purchased a property (completed foreclosure) via auction.com previously. Same seller (BoA). Start to finish we closed in less than 45 days with that transaction. I have read many of the comments on the…

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Added by Gregory J Bermes on March 6, 2013 at 6:12pm — 4 Comments

Freddie Mac: Broker Contributions to Pay Off Second Lien Holder

Hi Everyone.  I am negotiating a short sale where the first is a Freddie Mac serviced by Nationstar and the second lien holder is Cenlar.  Cenlar wanted a $43K payoff and I negotiated down to a bottom line of $12K.  The Freddie Mac guideline is to pay no more than $6,000 to the second lien holder.  The buyer had agreed to reduce the closing cost credit by $3,000 and both agents will be pitching in $1500.00 to come up with the other $6,000.  I had a new HUD done and sent it to Nationstar. …

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Added by Suzanne Martin on March 6, 2013 at 8:13am — 5 Comments

Loan Modification with Suntrust Bank

I'm in the process of doing a loan modification with suntrust bank since July 2012. I received a call from the bank saying that there was a lien on the property from a credit card company. They cannot move forward with the loan modification because of this lien. The home is presently in the foreclosure process. The family was served with the foreclosure in October/2012.

Q-Should the seller take care of this lien so the bank can continue with the loan modification or should the lien stay…

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Added by Ismael Jusino on March 6, 2013 at 2:31am — 2 Comments

2012 WHAT THE%%?? - Odd Title Insurance and Closing Customer Requests

Does any of these requests sound familiar to you?

found on youtube

CLICK PHOTO

Added by Ghana Bigsby on March 5, 2013 at 5:00am — No Comments

Is a hard money loan an option when experiencing foreclosure?

The extended recession in the US has left many homeowners remain in a position where they cannot  patch up their mortgage. As these homeowners look for a good way to keep their  properties many come across the term hard money loan. The natural idea is to think that a hard money loan could possibly allow you to refinance your home and keep it.

 

Hard Money have a misconception of being regarded loans for people…

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Added by Charles Lee on March 5, 2013 at 4:59am — No Comments

Without Knowledge...."Passing The Buck" Can Be Fatal For Your Client!!!

First of all, please allow me to preface this blog post with the following statement...."I am NOT against the use of third party negotiators handling short sale transactions. There are many effective third party negotiators and some that I would even use....after a lengthy interview, of course. The actions of some third party negotiators DO NOT reflect the actions of ALL third party negotiators".

....No that I've gotten that out of the way, it's time for me to speak my mind.

We…

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Added by Vanessa Calhoun on March 5, 2013 at 4:14am — 9 Comments

FREE Member Webinar: The New Short Sale Rules And Programs





SPONSORED By MAPS Coaching, Short Sale Superstars,

Short Sale Commander and Short Sale Inner Circle





Presented by MAPS Coaches Jacob Swodeck and Knolly Williams

(they have closed nearly 2,000 short sales)



THE NEW SHORT SALE RULES AND…
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Added by Bryant Tutas on March 5, 2013 at 1:00am — 1 Comment

Top 10 Title Insurance Closer Mistakes (1)

#1 Taking Title Out of the Trust 

Be careful when demanding that the title held by a trust is conveyed to the trustee solely for the purpose of refinancing the home loan. However, it can be done - it's just that a lawyer for the lender and borrower should be made aware of the objective.

found on youtube

CLICK ON PHOTO…

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Added by Ghana Bigsby on March 4, 2013 at 11:30am — No Comments

The Big Home Price Scare And Why You Should Short Sell Now

In my previous blog post, I estimated that in 2014, home prices were expected to rebound. 2012 however surprised all of us with sharp price increases. What is causing this price increase? A number of factors may play into it but one of the main variables is the lack of supply thus increasing demand and prices. It is a seller's market and will probably remain until the latter half of this year. However, I don't believe this will last.

Based off our research, there is a artificial lack…

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Added by Peter J Kim on March 4, 2013 at 4:30am — No Comments

Homeward short sale just moved to 0CWEN

The transferring of servicers continues! Offer and all supporting docs and BPO done with homeward, and boom… Off to OCWEN we go! Resubmitting all docs and starting over. The short sale world continues to be full of obstacles even as I enter my fifth year of listing negotiating and closing my short sales. I'm so glad that the standard equity …

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Added by Kimberley Kelly on March 4, 2013 at 3:44am — No Comments

Top 10 Title Insurance Closer Mistakes (10)

Take a look at this mistake that some closers make.

# 10 Don't be a know-it-all closer.

found on youtube

CLICK ON PHOTO

Added by Ghana Bigsby on March 3, 2013 at 3:42pm — No Comments

NEWSLETTER: Done With Short Sales!!

Good morning Superstars.

Here's a sampling of this week's Superstar discussions.…

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Added by Bryant Tutas on March 3, 2013 at 2:00am — No Comments

Short Selling A Tenant Occupied Home??? Are You Ready For Drama??????

As short sale agents, we have to endure the craziest scenarios. If it's not the most asinine requests from some banks/servicers, then surely it's the unusual repair requests from buyers (yeah right....my Seller's selling his home via short sale, hasn't paid squat towards a mortgage in over three months...HOWEVER, he/she certainly has $10,000 to pay for new carpet and paint). My all time favorite has always involved selling a tenant occupied home.

It always starts out the…

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Added by Vanessa Calhoun on March 1, 2013 at 8:12am — 1 Comment

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