June 2011 Blog Posts (31)

Federal Trust Bank Short Sale

Has anybody ever done a short sale with this lender?? as i'm finding it extremely difficult to get a good number.

I'd appreciate your help.

 

Thanks!

 

Mily Arroyo

Added by Mily Arroyo on June 10, 2011 at 6:58am — No Comments

Does Your Short Sale Designation Make You An Expert?

Hi folks. Short Sale Designations. How many are there and does having one mean anything? Well there are a whole bunch of designations!!

Having a Short Sale designation means that the agent, at a minimum, knows how to put together a short sale package to send to the lender. They have probably been through several hours of training either…

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Added by Bryant Tutas on June 8, 2011 at 7:26am — 1 Comment

Bank Of America FOECLOSED ON BY HOMEOWNER - YOU JUST GOTTA LOVE THIS!!!!!

 

You know you will love this:

 

http://www.huliq.com/3257/sweet-justice-main-street-homeowner-forecloses-bank-america

 

B of A foreclosed on a guy that paid CASH for his home......the guy TRIED to get it straight with B of A, they ignored him (can anyone here relate to being ignored by B of A)????

 

He took them to court, WON, was ignored…

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Added by Ben Benita on June 8, 2011 at 2:47am — 2 Comments

Understanding Today’s Buyer

With things the way they are and recovery inching a few steps forward and a few steps back, knowing today’s buyer and what their needs and wants are is crucial to getting a client’s home sold in a timely fashion.

Of course price is the main factor in getting a home sold faster but understanding your target audience is also a must when taking into consideration the…

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Added by Tim Brown on June 7, 2011 at 6:51am — No Comments

Fannie Mae Short Sale Assistance Desk

I thought everyone might be interested in hearing what Realtors are saying about the Fannie Mae Short Sale Assistance Desk.  See attachment from Fannie Mae. 

 

I would also encourage Realtors to contact their MLSs to ensure they have access to this service in their markets.  For more information, visit Fannie Mae's website at:  What are Realtors Saying About the Assistance…

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Added by Gail Mitkoff on June 6, 2011 at 2:44am — 1 Comment

Tips To Help The Short Sale Buyer Stick To The Short Sale Transaction



Hi folks. If you list and sell Short Sales, as I do, then you know there is nothing worse than going through a 4 month Short Sale Approval process only to find out the Buyer has walked from the transaction. It wastes a lot of time and it places our Sellers one step closer to being foreclosed on. So as a …
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Added by Bryant Tutas on June 4, 2011 at 1:31am — 10 Comments

Navy Federal Credit Union Short Sale

I have a short sale with Navy Federal Credit Union.  The short sale was approved however the mortgage insurance company is requiring a promissory note from the seller of $15,000.  Her CPA says that would send her into bankruptcy.  The buyers are hanging in there but we are at an impass.  Any ideas?

 …

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Added by Shanale Phipps on June 3, 2011 at 5:53am — 2 Comments

GMAC say No Commission to licensed Buyer

Got a GMAC short sale approved for a Chandler Home owner  but requested copies of real estates turns out GMAC will not pay commission to a licensed buyer representing him/her self  also no resale for 12 months (no flip ) short sale was nulled and void pending approval by diffident department in loss mit, so everything must be disclose to bank from the start in order to avoid delay of closing, Crazy right maybe not they what to make sure agents are not locking the best deals for their self so… Continue

Added by Jason Yacoub on June 3, 2011 at 4:30am — No Comments

HELP.. I HAVE A SIGNED ATP BY CHASE BANK AT 155,000. NOW THEY SAID THE ATP SHOULD BE 185,000?? HELP SOMEONE

I have a question for anyone who has come across this situation before.. We have been working with Chase Bank on one of our short sales, this is an FHA loan so the bank had a full appraisal done on the property. We later received an ATP from Chase Bank at 155,000, we signed this contract with FHA as well we received an offer higher than this amount..  This file was later transfered to another negotiator who then reviewed the file and discovered the ATP should have been 185,000.. The question…

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Added by David R Haws on June 2, 2011 at 7:29pm — 3 Comments

Storm-Proof Your Home

If you have been anywhere close to the tv and happen to have a news station on you will know that 2011 has been the biggest year for deadly tornados this country has seen in the last 50 years. So it is important to be educated on ways in which you can storm-proof your investment and work to minimize damage if hurricane or tornado force winds were to strike. As you know in…

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Added by Tim Brown on June 2, 2011 at 11:20am — No Comments

Why we ALL HATE EQUATOR - New Buyers

I have an escalated file with B of A, and, after 14 months hanging in there, the Buyer pulled out while we were working on obatining a short payoff on teh delinquent condo fees (can't say I blame them for walking after 14 months).

 

With an APPROVED dollar amount, we quickly found a new BUyer, and, were just informed that WE GET TO START THE PROCESS OVER BECAUSE EQUATOR DOES NOT PERMIT BUYER NAMES TO BE SWITCHED).

Good times and teh Buyer, Seller, agnts, attorneys and…

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Added by Ben Benita on June 1, 2011 at 12:24pm — 1 Comment

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