Dayton Realty Inc is one of the fastest growing real estate offices in Queens. We have hundreds of listings in all three boroughs, which include new construction, foreclosures, 1, 2 and 3 families.



Our goal is to make sure that you and your family get the best deal with the least effort. "Leave the work to us." Buying a home is a huge commitment and we want to ensure that you…

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Hello SuperStars! Has anyone had a situation where their buyer wants to cancel, is past their waiting period, and the seller won't sign the cancellation form? Seems the Buyer should be able to get out of the contract but I've heard they need the Seller to cooperate. Your experience? --Sue

 

Are you considering short sale, but torn thinking it may be the most ruinous personal and financial decision you will ever make?  You are not alone.  As more families are confronted by upside-down real estate values, jobless or with limited income, the…

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I am still amazed at the number of REALTORS® that continue to list short sales and either attempt to process the short sale themselves and/or turn the file over to a third party title company. In many of these instances I have noticed the title company charging “short-sale processing fees” at closing in direct violation of the law. In fact, such a charge may be considered a felony as it violates Florida Chapter 494.

 

Federal and Florida laws involving short sales and their…

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Top 5 Mistakes Short Sale Sellers Make

As a Santa Maria Short Sale Agent, I see short sale sellers make critical mistakes time and time again.  Here is my list of the top 5 mistakes I see:

 

1)   They wait too long to put the home on the market.Many times sellers believe that…

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I initiated a short sale a few months ago with a qualified short sale realtor, and also was using the services of a real estate lawyer.  I provided all the required imformation, and did all the right things.  My mother is not well, and needs me to be near her.  Everything was handled properly and the first people to walk in my home loved it, and offered the posted price in cash.   Looking good, right?  WRONG.    The sale was denied because I have pristine credit and am not behind in my payments… Continue

Hi All,

 

Here's the link to the Fannie Mae live broadcast on the Short Sale Assistance Desk. 

http://Fannie Mae Broadcast - CDPELive - Short Sale and Foreclosure Education

 

Marcel Bryar, Vice President at Fannie Mae, discusses the benefits of the Assistance Desk and how it can help real estate professionals speed up the…

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I have a few short sales that are HAFA and if the second mortgage is not with the same  as the first mortgage and they don't agree to hafa guidelines, then WHAT IS THE POINT OF HAFA?

 

The government put hafa to help but it seems like the banks are still in control of the process.

 

Also HAFA is suppose to have a response it 30 days. Haven't seen one yet.

 

 

Hello All,

 

I am looking for a loss severity calculator to help show loss of accepting short sale versus allowing the property to go to foreclosure. If anyone out there has one or knows where to get it can you please let me know.

 

Have a great day!

 

Imran

Submitted short sale offer in March. Was rejected in June. I was given the impression that the denial was based on a perfect storm of (1) issues with corporate buyer; (2) cash offer; and (3) lack of hardship. As such, the representative encouraged me to resubmit the offer between seller and buyer (no relo company involved.)





Now BOA says they want to decline the file due to lack of hardship (without submitting the file for PMI approval). Apparently, this particular PMI company has… Continue

What????  Yes, first time in 5 years of doing loads of Short Sales with different Lenders, different types of Sellers, various emotional situations..pretty much everything I thought....

 

Retired Broker who was not representing herself, but did insist on showing her property herself.  Yikes..alarm bells should've gone off.  But..she was referred by a friend, and really, how bad could it be???  Primary residence, condo, well kept, only one loan with Chase.  Slam dunk,…

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Treasury considers more tweaks to short sale program

by JON PRIOR





• Treasury reveals servicers doing the most through HAFA

• Mortgage servicers start 2,000 new HAFA transactions

• Failed HAMP mod short sales increase through September

• 64,393 HAMP failures resolved with short sales, deeds-in-lieu

• HAFA spikes, HAMP flat in April

Tuesday, July 5th, 2011, 5:14 pm



The Treasury Department is considering more changes to the Home Affordable… Continue

Great article today about the big banks abusing borrowers before and after their HAMP loan mods.

 

Check it out

My  offer was accepted  from the seller on 3/20/11. The seller opt out of the HAFA short sale.  Sellers agent  received message on 6/3/2011 from equator  “The valuation for the property at XXXXXXX  is complete and we can move the short sale forward”  and then on 6/24 the agent received the same message? Whats next? How much longer to receive a response on my offer? The offer is at FMV.

Have a short sale w/ GMAC.

Buyers are offering 140,000 w/$6,000 back towards closing cost, prepaids & points.

Will a bank ever accept an offer with way over 3% of the sell price going back to buyers for closing cost.

Thanks,

Dee

Unethical? I think so.  Immoral? Pretty sure!  Illegal? Biggest question yet!

 

 

 I am in the middle of a short sale. I represent the buyer. The listing agent calls me and says we have short sale approval, move forward with inspection/appraisal. I ask for the short sale approval letter, which he flat out refuses to provide.  He says that the approval letter is between his seller and their bank. I explained that since the contract says 'subject to third party approval',…

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My sincere thanks to Clay and Kathie Kime, CDPE, for the reply to my inquiry.  I can't wait 'til tuesday, to talk to a supervisor... I love this website... Thanks, REGrow, and all those who share their experiences!

 

UNITED WE CAN!

 I just sent a HAFA request together with an offer to Chase for some clients.  Chase denied the relocation allowance of $3000 because they claim that under HAFA, if you already have an offer, they will do the short sale but won't give you any money to relocate.  The clients are "dead broke", and without the relocation allowance, they won't sell... they will just fight the foreclosure and wait it out as long as possible.  Does anyone have any ideas/suggestions?  Should we withdraw this offer,…

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If you like the rush, the careening highs and crashing lows that makes your Adreneline course through your veins like you've being chased by an unknown intruder..try a Short Sale!  What a rush!  What a ride!  Kind of like a huge roller coaster zipping along....up, then down..back up, then down..yippee!

 

Even if you're a list agent used to the…

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