July 2012 Blog Posts (64)

Big Differences Between FHA and Conventional Mortgages

Differences Between FHA and Conventional Mortgages

Across the land the vast majority of home buyers use either a FHA or a conventional mortgage to purchase a property.…

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Added by Michael Collins, CDPE, SFR on July 31, 2012 at 10:08am — No Comments

Short Sale with ING Direct

Who has experience asking and getting ING DIRECT in DE to increase the agent commission to 6%?  What needs to be done in order to get them off their stated $35,000 max. commission payment?  Please help.

Also, can a non-CA Lender ask that the Buyer use an out of state (in PA) escrow agent?  What are the Seller's rights if any here?

Thank you. HELP!

Added by VIVIAN Q. LE on July 31, 2012 at 8:42am — No Comments

If my hardship is temporary do I still need to do a short sale in Lehigh Valley

Call Carl SanFilippo toll FREE (888) 445-8880 for a FREE phone consultation!!!

Lehigh Valley Short Sale Realtor It is very crucial for you to prove to your lender that you are now back on your feet and will be able to stay consistent with your mortgage payments as well as begin to pay back the unpaid amount. Your lender may request that you repay the missed payments over the timeframe of six to twelve months. If you have found yourself to be in this particular circumstance, please know that you do have…

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Added by Carl SanFilippo on July 30, 2012 at 12:11pm — No Comments

Short Sale with Chase so far so good..just follow the brick road

I listed a short sale with 2 loans serviced by Chase. CLTV is LESS that 50% of market value. Submitted a CASH buyer and assigned a negotiator in less than 3 weeks. Today, he is submitting my package to the investor. 

We'll see...NOD in May 2012 but nothing posted in public record. Negotiating to include payoff to release an abstract of judgement from a deceased husband over a year ago. 

Scheduled to close AUGUST 30. 

Added by Esperanza Agbayani on July 30, 2012 at 11:55am — 1 Comment

FlagStar Declining and turning down doing a short sale

Flagstar is denying one of my files saying that my home owner can afford the home and they will not do a short sale.  His only option is to pay off the home in full.  Has anyone experienced this before?  He has not missed a payment yet either. Does he have to miss a payment before he does the short sale?  If you have experienced this with Flagstar please let me know.  I have closed a few short sales with them already so this is a first for me as far as completely being turned down to do a…

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Added by JD Dugger on July 30, 2012 at 10:37am — 2 Comments

Santa Clara Ca Short Sale/Foreclosure Round Up

In Santa Clara from Jan 1, 2012 until June 30, 2012 there were:

97 closed short sales

47 closed bank owned homes

Total sales during this time period were 491

Total % Short Sales:…

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Added by Marcy Moyer on July 30, 2012 at 9:12am — No Comments

Understanding Requirements of Appraisal for FHA Loans

Understanding Specific Requirements of Appraisal for FHA Loans in Wisconsin

The all-time low mortgage rates combined with…

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Added by Michael Collins, CDPE, SFR on July 30, 2012 at 6:50am — No Comments

Cal HFA

Has anyone in Calif. done a short sale with Cal HFA? If so, any tips on how to get the process streamlined? I have a trustee sale date in 14 days and just got an offer to send today.

Thanks!

Tracey

Keller Williams Realty, Elk Grove, Ca.

Added by Tracey Saizan on July 30, 2012 at 5:49am — 3 Comments

Mountain View Ca Short Sale/Foreclosure Update

In Mountain View from Jan 1, 2012 until June 30, 2012 there were:

16 closed short sales

22 closed bank owned homes

Total sales during this time period were 349

Total % Short Sales:…

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Added by Marcy Moyer on July 30, 2012 at 5:14am — No Comments

Anyone have problems w/buyer buying a short sale property with an IRA.

Waited 6 months for an approval letter on a short sale my buyer is wanting to purchase from Wells Fargo with Freddie Mac Investor. He started out using a loan n at about the 3 month mark decided to use his IRA. Listing agent and I both decided an addendum to change verbiage on buyer name would be best added after approval was even given. Otherwise short sale may be stopped n restarted. Upon uploading the change, days before closing, the Equator system kicked out a note from negotiator saying,… Continue

Added by Laurel Lewis on July 29, 2012 at 5:47am — 1 Comment

NEWSLETTER: Do You Share The Approval Letter With The Buyer Side?

 

Thanks For Helping Us Make…

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Added by Bryant Tutas on July 29, 2012 at 1:00am — No Comments

Inexperienced Short Sale List Agent killed my deal..

I always check out the List Agent before I take a buyer to a Short Sale Listing.  Why?  Because an inexperienced List Agent can KILL the deal!

Submitted an offer under pressure from my Buyer.  I knew the Agent had never done a Short Sale, but I spoke with him and he seemed amenable to trying to work with me to get an offer to the Lender, Chase.

Chase is one of…

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Added by Kimberley Kelly on July 28, 2012 at 7:10am — No Comments

Lehigh Valley Short Sale Realtor

Lehigh Valley Short Sale Realtor CALL CARL SANFILIPPO TOLL FREE (888) 445-8880 FOR A FREE PHONE CONSULTATION.  Every homeowner in Lehigh Valley should be educated on their options to avoid a foreclosure in Lehigh Valley. Many options are available in Lehigh Valley to distressed homeowners however; short sales are becoming…

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Added by Carl SanFilippo on July 26, 2012 at 7:00am — No Comments

A Turn Around for the Housing Market?

May 2012 Could Signal a Turn Around for Housing Market



There is some hope for the real estate market. According to a report published by the Commerce Department the number of homes purchased in May of 2012 was the highest number in over two years. The number of purchases increased from…

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Added by Michael Collins, CDPE, SFR on July 26, 2012 at 4:12am — No Comments

Michael Collins receives BPOR Certification

FOR IMMEDIATE RELEASE:

NAR Broker Price Opinion Resource BPOR

Michael Collins Earns NAR Broker Price Opinion Resource Certification

Sellers and Lenders Benefit from REALTOR® Expertise in Broker Price Opinions

Madison, WI — Michael Collins with Rock Realty has earned the nationally recognized Broker Price Opinion Resource certification. The National…

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Added by Michael Collins, CDPE, SFR on July 26, 2012 at 3:17am — No Comments

How to esccalate with BOA?

I am representing the buyer on a Short Sale purchase the Lender is BOA. We got a clear to close last Friday only for the listing agent to tell me He has been trying to get a lien approved for the Hud and his side can't close until that happens. He has negotiated the lien but BOA hasn't approved it for the hud. Also that he found out at the last minute because his seller never disclosed she had a HOA Lien outstanding. How can help him get this file "escalated"? My buyer is nervous and…

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Added by Ludora Cooper on July 25, 2012 at 7:44am — 1 Comment

In New Jersey, Is The Housing Market Improving by the New Jersey Short Sale Specialist

New Jersey Short Sale Realtor

Call Carl SanFilippo (888) 445-8880 for a FREE Phone Consultation

It’s no secret the housing market in New Jersey has plunged in recent years and selling a home in New Jersey seems like an almost impossible task. The number of New Jersey short sales have spiked in these years as well. Homeowners in New Jersey have waited months, and some, even years to get out from under their homes. For the homeowner who is looking to sell whether…

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Added by Carl SanFilippo on July 24, 2012 at 3:24am — No Comments

The Secrets Of A Pro Short Sale Negotiator



Full Article at: www.seattleshortsaleblog.com

Our team of agents at Seattleshortsaleblog has been extremely successful with short sales for many years now and pinpointing the key attributes that has contributed to our success is quite apparent once you meet our negotiators. As emphasized before in our previous…

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Added by Peter J Kim on July 23, 2012 at 10:48am — No Comments

Why a New Jersey Short Sale Takes so Long

New Jersey Short Sale Specialist

CALL CARL SANFILIPPO TOLL FREE (888) 445-8880 FOR A FREE PHONE CONSULTATION

A New Jersey short saleis one of the alternatives to avoid foreclosure that a home owner can choose. It has its pros and cons, but some experts tend to think the benefits of a short sale…

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Added by Carl SanFilippo on July 23, 2012 at 9:00am — No Comments

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