How convenient that BOA has declined the short sale when we accepted there terms on the counter and now the home owner is not eligible for the FLIN incentive for $17,000. They stated that the reason it was declined is because BOA has determine they do not want to accept the offer. Ok?? So why not counter back at a higher sales price?? They are telling me to re-initiate SS and start all over when I have been working on file since October 2011 and now the home owner doesn't qualify for the…Continue
From the Florida Association of Realtors News Letter
Big changes to BofA short sale process this weekend ORLANDO, Fla. – April 9, 2012 – Bank of America is set to roll out a new short sale process and documents designed to reduce the approval process to 20 days.
The changes are so extensive that the…
I have an American Hm Mtg issue they won't issue the HAFA approval until CITI (2nd mtg) gives them theirs and CITI wants AHM's first. No one will issue letter first. I tried to get a conditional letter, but neither will go first. Any suggestions or contact I can call?
Ocwen has recently opened a Short Sale call in line for authorized third parties (ATP). Once designated as an ATP, call 800-746-2936, and follow the prompts to the Short Sale Team. The lines are cuurently open Mon - Fri, 9:00 AM - 6:00 PM ET. In addition, we have added a dedicated email and fax for final HUD approvals. Send them to: [email protected], or fax to: 561-682-8010. Be sure to include a cover sheet indicating the Ocwen loan…Continue
Added by Mike Cooper on April 8, 2012 at 3:03pm — No Comments
I am in the process of negotiating an offer for a buyer attempting to purchase a home involved in the HAP program for military servicemen. The buyers requested the seller to provide closing cost assistance. The seller rejected the offer stating that the HAP negotiator assigned to him told him that HAP does not pay any buyer closing expenses. I did some research and found …Continue
Hi guys, We just added a bunch of articles to the Advanced Short Sale Training Group to help you in your business. Be sure to pop over and check them out.
Added by Bryant Tutas on April 8, 2012 at 5:31am — No Comments
Added by Bryant Tutas on April 8, 2012 at 4:31am — No Comments
Added by Bryant Tutas on April 4, 2012 at 4:45am — No Comments
listened in on the BofA webinar yesterday. I thought it was very informative and not at all cryptic. BofA is giving all of us plenty of notice to get it right. If you can't take the time to get 5 documents signed, then quit doing short sales.
All of BofA changes make sense and so does all of their new documents. I totally understand why BofA is now requiring only licensed professionals or attorneys to be the authorized third party reps for the homeowner.
I know I am going to…Continue
Folks, as we all know, there are many things that are wrong in the Short Sale world. And in my opinion there is one thing that is very right. The Bank of America Cooperative Short Sale. The Bank of…Continue
Added by Bryant Tutas on April 2, 2012 at 12:40pm — No Comments
HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA)
UPDATES AND EXTENSION:…
Added by Arthur Wainio on April 2, 2012 at 4:30am — No Comments
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Added by Bryant Tutas on April 1, 2012 at 4:25am — No Comments