Yeah! This is TRUE. I have been on the phone all morning with my Senator's office and Senator Reid's offices in Washington, and FINALLY, earlier this evening, the Senate voted on a stand alone measure to approve an extension for the June 30th deadline to September 30th! =) The Senate has passed a measure to extend the closing deadline for…Continue
Added by Julie R. on June 30, 2010 at 11:30pm — No Comments
If you have followed my posts, you know that short of walking down the halls of Congress, I have been all over this potential legislation, garnering support via letters, op-ed pieces, etc. Just when it looked like the possibility for an extension had died in the Senate last week, largely due to being and amendment to an already water-logged bill. "WAHLAH" Members of Congress today introduced a stand alone bill H.R. 5623 called the "Homebuyer Assistance and…Continue
Added by Julie R. on June 29, 2010 at 11:24pm — No Comments
I have a HAFA submission that has been in the Equator system for about 7 weeks (now in underwriting) and the buyers are getting nervous at this point as they have been in contract for just about 90 days. I have had great success in escalating stale short sales in the past to executive level employees at the bank but have not tried this with a HAFA submission going beyond the "30 Days" guideline…Continue
Property:3 bedroom 2.5 bath townhouse in Kissimmee Florida.
Hardship:Investor owned property. Loss of income. This is the 3rd Investor Short Sale we have completed for this Seller.
1st Mortgagewith Citi Mortgage for $92,000. Agreed to accept $54,442 or 60% of the balance owed.
No Seller contribution or promissory note. Citi Mortgage issues a…Continue
Has anyone tried to use the equator to obtain short sale leads? Does it work (did yu get any leads)? Did you get certified? At what level were you certified, Platinum, Gold or Silver?
Added by steve Letterman on June 21, 2010 at 7:43am — No Comments
Then Senate is poised to approve the ammendment and it will have to get thru the house.
I know all my short sale buyers and sellers are hoping it goes thru! I'm sure yours are too!
If passed buyers will have until Sept 30 to close escrow in order to meet the tax credit qualifications.
Added by Dawn Barrier Prominent Realty Gr on June 18, 2010 at 5:53pm — No Comments
I received what looked like a form letter today about one of my new Destin Florida short sale listings. The property address was inserted in ALL CAPITAL LETTERS. Here is the email:
"I noticed your listing at STREET # STREETNAME. DESTIN, FL, is it still…Continue
Short Sales reduce numbers of strategic defaults..
Since beginning my short sale career when this mess in the Coachella Valley, CA took hold years ago, it has been my mantra that the Lenders do NOT want to be truthful with their shareholders regarding true values of their housing assets. Now, I am seeing this very idea in various media outlets. I still believe…Continue
Added by Kimberley Kelly on June 17, 2010 at 5:43am — No Comments
Great Blog - Good Information.
I purchased three California homes in 2009. All REO's. My advice - What have I learned? Prequal with the bank taking the loss. Hire the listing agent on the property you wish to buy. If you use a buyers agent, only make offers on property listed within that agents brokerage. If not my advice, you are wasting your time. Most successful distressed sales in CA are inside jobs. Sort and sweet.
AS FOR PNC SHORT SALE;
On April 2 this…Continue
Added by Gary J Hirdler on June 16, 2010 at 11:32am — No Comments
Brian Buffini Cinemeeting sponsored by First Mortgage/ Wells Fargo in NW Ohio community of Maumee OH ...…Continue
Added by Dee Nofziger on June 13, 2010 at 8:30am — No Comments
Here are some current comments and trends which one of an industry lead online articles inspired some thoughts and feedback which you as readers repositioning your business strategies may find insightful to current local, regional, and national market conditions that we are tracking for our clients around short sales acquisition both one off and bulk asset acquisition.…Continue
Added by Craig Barry on June 11, 2010 at 2:19pm — No Comments
I have been negotiating a short sale on a Florida condo with Konduar Capital and they have been pretty wonderful through the whole process - UNTIL..... we got down to the second lien holder who won't play ball - even though the foreclosure sale is coming up next week. The negotiator who is handling everything at Kondaur has advised that the buyer should go down to the court and just purchase at our agreed price in the contract. We have been informed what has and has not been paid and what…Continue
Added by Karen Donovan on June 11, 2010 at 10:04am — No Comments
Has anyone been able to get Chase to waive going after a deficiency judgement if the seller agrees to pay on a promissory note?