May 2011 Blog Posts (47)

Is A Stategic Short Sale For You?

Is doing a Strategic Short Sale the right thing to do? First let me define Strategic Short Sale. A Strategic Short Sale is when you can afford your mortgage payments and are making payments on time BUT you owe more than the property is worth. You make a strategic decision to sell the property and offer your Lender less than what is owed as a settlement of your debt. If the Lender accepts your offer you have just completed a Strategic…

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Added by Bryant Tutas on May 30, 2011 at 5:49am — 8 Comments

Lenders should loosen their criteria regarding short sales

Many short sales are lost, and fall out because banks (such as 1st mortgage) have such strict requirements that it becomes nearly impossible to satisfy these ridiculous requirements.

 

What really buggs me is that many of these requirements (RMA form) are Loan mod forms and make absolutely no impact on the short sale. Why do the banks require these ridiculous forms to be filled out? Who cares how many previous marriages the seller had? Why do these forms have to be filled out…

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Added by Jeremy Stuart on May 29, 2011 at 6:59pm — 4 Comments

FRT - What is your experience?

While jumping into the adventure (choosing kind words) that are short sales,

it has seemed logical to partner with a short sale negotiator.

Foreclosures are down for 3 years straight in Allegheny Co,

while short sales are...well...who knows what the elusive invisible short sale is up to.

While numbers of sales (deed transfers) appear to be in a level not seen since the 1980's,

there is a large number of "traditional" real estate sales available.

Short…

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Added by Mike Netzel on May 29, 2011 at 9:04am — 2 Comments

Marketing Mayhem

Stepping away from the current economy and its effect on the housing market, lets turn to technology and marketing and how your home should be marketed in today’s techno atmosphere.

The truth of the times is that for the most part print advertising and marketing for real estate is slowly becoming a thing of the past. Not because Real Estate professionals necessarily…

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Added by Tim Brown on May 26, 2011 at 12:50pm — No Comments

Los Angeles Short Sales: Chase offers seller on a short sale $30,000 at the close of escrow!

 

Los Angeles California Real Estate | Short Sale Specialist | Short Sales in Los Angeles | Short Sale Los Angeles| Los Angeles Loan Modification:

 

I have a Realtor friend that works out of Pasadena California that recently was fired by her seller because of this letter. Chase told the…

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Added by Jennifer Escobar on May 25, 2011 at 6:30pm — 15 Comments

The Investors on my approved Short Sale taught me a lesson today..

Two loans..each with a diffferent Lender.  I have received BOTH approval letters.  COE is 5/27.  Buyers' money in the bank, inspections done, buyers on their way to Palm Springs..BOOM!

My cell rings..

"Hello, this is Kim"

"Yes, Kim, this is Bob, your closer for your loan #______"

"Hey…

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Added by Kimberley Kelly on May 25, 2011 at 6:17pm — 2 Comments

NACA headaches

I've just listed two properties in Southern California.  Both sellers attempted to modify with NACA but their mod attempts failed.  Now, they would like to shortsale but I'm having such a difficult time getting the NACA code off their file in order to begin initiating their shortsale.  NACA has kept me on hold on 3 occassions for 45minutes to no avail.

 

Any luck anyone? Ideas?

Added by Trina Gonzales on May 24, 2011 at 5:16pm — 2 Comments

I Like to Move It Move It

Every so often a question arises on whether or not you as a seller should let a buyer that is under contract move in to your vacant home prior to the closing and settlement date. This is something that needs to be thought out extensively for many reasons.

You, as the seller need to understand that though you are under contract and everything is looking to be going…

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Added by Tim Brown on May 24, 2011 at 2:04pm — 1 Comment

Lenders Now Own 872,000 Homes!!!

WOW!! Check this out......

 

WASHINGTON – May 24, 2011 – U.S. banks and money lenders now own 872,000 homes, a number that could more than double in the coming years, real estate research firm RealtyTrac said.



The current number of properties owned by banks and lenders is nearly double what they owned in 2007, before the housing market began to collapse, The New York Times reported Monday.



Lenders frequently sell homes at a… Continue

Added by Bryant Tutas on May 24, 2011 at 11:54am — 1 Comment

Not all SS Seller's are Losers

I must share this story.  This occured about 9 months ago.  TRUE story!

The day before closing-I went to the house to remove my yard sign and SUPRA box.  (this was a Short Sale)  Seller's were VA home owners.   lost job, and forced to sell home to move out of state.

When I arrived at the house the husband was edging the yard...his wife was on her hands and knees in the garage scrubbing oil spots...

I asked "what are you doing"?  Their response.      "Sewing for our…

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Added by Dr. Rodney K.Elkins on May 23, 2011 at 8:17pm — 3 Comments

HAFA success in Lynnwood, WA with BofA !

I just completed a short sale in Lynnwood using the HAFA program and it was great. The buyer got a beautiful home for an outstanding price and the seller was able to walk away with no deficiency on a 1st and 2nd Mortgage of over $250,000. They also received a credit for $3,000.00 provided by HAFA. I feel like HAFA has come a long way and at least in this case, provided the type of help for homeowners facing foreclosure that the program was intended to provide, but rarely did early on its…

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Added by Tim Schmitz on May 23, 2011 at 2:10pm — 1 Comment

Tetimonial Ulysses Mori

Would love to...

 

  I would highly recommend Ulysses to friends and family. He is professional, honest and very tenacious.  He exceeded expectations with my sale, and I am very grateful for all he did for me.

 

 

 

Karie  Bailey

 

Northwest Region Sales Manager

 

Boise Building Solutions, Particleboard Division

 

Cell Phone 208-761-4969

 

Phone: 503-265-8727

 

FaxCys:…

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Added by Ulysses Mori on May 23, 2011 at 1:40pm — No Comments

Asset Management trying to take over my Short Sales!!!!



I am tired of the lenders sending asset management companies to winterize, change the locks, mow the grass- when the owners are keeping up the property but in the process of moving out because approval is taking so long. Some lawn company called me about mowing the grass when it was under 2 inches of snow!! They call and harass me and call the neighbors to see if everyone's stories match up. You would this this…

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Added by Kathleen Lordbock on May 22, 2011 at 7:23am — 1 Comment

Is Early Occupancy OK for Short Sales?

 

Move in without closing first? Whoa! I just got an offer on a Destin Florida short sale listing with an early occupancy clause.  The buyer wants to move into the property before closing and short sale approval.  Is that a good idea? One of the negatives of short sales is the…

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Added by Wendy Rulnick on May 21, 2011 at 8:41am — 37 Comments

Transaction Management Systems

Does anyone know of a good Transaction Management System that can be used for everything:

REO list properties including expense tracking

Short Sales including ss package organizing, sorting, page numbering, headers with loan number and customer name, 1etc

Regular Listings

Buyer client transactions

 

Thanks,

Bill

 

Added by Bill Travis on May 21, 2011 at 7:11am — 6 Comments

Chase paid my seller $20,000 to do a short sale!

Yes it's true. I didn't think it was when a potential Seller called me in December to see if I could place his Bellalago Short Sale on the market. He said that Chase contactied him and offered him $20,000 to short sale his Florida property. He had 3 days to get it listed and send them the listing agreement. They also told him he didn't have to provide them with any financial information. Just a listing agreement, contract, HUD 1 and a…

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Added by Bryant Tutas on May 21, 2011 at 6:06am — 8 Comments

Quicken Home loans?

Anybody know who services Quicken home loans?

 

Added by Amelia Keene on May 19, 2011 at 5:55pm — No Comments

chrisdodt

Does anyone know if Indymac pays commission to an agent who is representing himself as a buyer on a Indymac short sale?

Added by chris dodson on May 19, 2011 at 4:22pm — 1 Comment

That Oughta Do It

So, you are going to list and hopefully sell your home.  The first step in the process is to personally evaluate the reasons for your selling motivation.  Once you are sure that this is the right path for you for whatever reason, it is time to call a Realtor.

So you jump online and start clicking through the armada of Realtors telling you they are the best and…

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Added by Tim Brown on May 19, 2011 at 2:31pm — No Comments

Anyone has idea how to contact the following:

Bank of America , as Trustee for a former WaMu  Mortgage Pass Through Certificate ???

Added by Larry Davis on May 19, 2011 at 9:42am — No Comments

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