August 2010 Blog Posts (26)

HAP Private Sale - Just Sold in Crestview Florida



This beautiful home on Shire Lane in Silver Oaks, Crestview Florida just sold. The home had impeccable upkeep. It was 2751 square feet, four bedrooms, two full baths and two car garage. The landscaping was outstanding. The sale price was…

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Added by Wendy Rulnick on August 31, 2010 at 3:01pm — No Comments

Who is B of A's MI Company???????



I have been working on this short sale with Wachovia, first lien holder, and Bank of America, second…

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Added by Sandy Ramirez on August 30, 2010 at 10:45am — No Comments

Regions Approves Fort Walton Beach Florida Short Sale



Regions Mortgage speedily approved a Waterscape condo for short sale in Fort Walton Beach, Florida. This Okaloosa Island condo was decorated with luxury in mind. The kitchen had granite counters, undermount…

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Added by Wendy Rulnick on August 29, 2010 at 7:47am — No Comments

ocwen made my life a living hell

hi i took out 150,000 mortgage from ocwen well i ran into some financial difficulty and missed a payment from that missed payment i went through absolute hell. they said they would help me witha modification and they gave me several offers and had me send in all kinds of papers then either said they never got them or they needed more and more things and then when i would send in everything they asked for they would tell me the offer was off the table .this happened about 5 times . then as i got… Continue

Added by kimberly whispell on August 27, 2010 at 7:19pm — No Comments

Harris Bank Short Sale

I've done a lot of Short Sales, but I've never done one with Harris Bank. Has anyone completed a Short Sale with Harris Bank? Also, do they have any specific Short Sale Documents that need to be filled out? Any information would be appreciated.


Thank you,

Heidi Lachel

Added by Heidi Lachel on August 27, 2010 at 7:14pm — No Comments

Wachovia has foreclosed! Changed rules in the middle of the game..dirty pool

My Wachovia Fast Track Short Sale listing, with accepted offer, was foreclosed on 8/10 despite written assurance from the asset manager that they would not foreclose. If this has happened to you since Wachovia changed the rules in the middle of the game, please contact me so that we can pursue Wachovia for lost commissions, etc. Henry Weiss... kcbs2@yahoo.com

Added by henry weiss on August 27, 2010 at 9:26am — 1 Comment

Why Don't Banks Act Rationally in a Short Sale?





Why do some short sales get approved, and others rejected?…
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Added by Marcy Moyer on August 26, 2010 at 6:46pm — No Comments

Short Sale Heaven

Short Sale , Deed in Lieu, Loan Modification, Foreclosure, HAMP, HAFA in California and what they mean to you.



Under the HAFA program you have the option of doing a Short Sale or Deed in Lieu. According to current FHA guidelines you can buy another home 2 years after the short sale. The lenders are required to give you at least 120 days to market the home and obtain an offer. The lender does not have to give you more time and you are…

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Added by Ed Clements SFR, HELP Certified on August 24, 2010 at 9:19am — No Comments

MI problems

I have been waiting for over 5 weeks for a MI approval; all other terms have been agreed upon 5 weeks ago; It is with BOA; anyone else having MI problems?

Added by Joyce Freese on August 24, 2010 at 9:10am — 1 Comment

Short sale question with IndyMac

We are going through a short sale and have gotten a packet saying that it was accepted. They accepted 100k less that what we owe. Line 11 is stated as below and wanted to see what peoples take on it are and if I will end up paying back the 100k. Thanks

11. The borrower must sign the attached acknowledgment to all terms specified in this approvel and must acknowledge that IndyMac mortage services retains all deficiency rights as provided by note, deed of trust and/or…

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Added by Tyler Evans on August 24, 2010 at 8:57am — No Comments

My Approval

Our first is with Suntrust and 2nd is with Citi, I submitted my package over 60 days ago to Suntrust and then after weekly calls to check on the status and no updates I find out the follwoing last week:

1) We have a sale date of Sept. 7th

2) My file was market "inactive due to missing documents" when I was only told last week for the first time we had missing documents

3) You can't even ask for an extension until 7 days before the sale date. This is Suntrust's… Continue

Added by Amy Alvarez on August 23, 2010 at 5:25pm — 1 Comment

Short Sale Company

Okay, to be honest, I try to stay away from Short Sales, but seems like a hard thing to do:0(

After showing well over 20 homes to a couple. We submitted an offer on a well known Short Sale company.

I only know him from his TV ads.

And he's a REALTOR........so that should be a given right? No phone calls, and takes six months to complete.

Okay, my clients are cool, they loved the home. First red flag, seller doesn't call back for appointment. I email…

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Added by Bettie Shetter on August 19, 2010 at 1:05pm — No Comments

Why a Strategic Short Sale May Make Sense

Hi folks. Let's talk about this Strategic Short Sale thing a little. I know there are many people that just can't understand why anybody would do a Short Sale if they can afford their mortgage payment and they do not have a hardship. In…

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Added by Bryant Tutas on August 19, 2010 at 4:00am — 2 Comments

Has Lehigh Valley Real Estate STABILIZED?



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Added by Eugene Mills on August 17, 2010 at 12:11pm — No Comments

Do You need a Hardship to Qualify For a Short Sale?

Well that's a good question. What do you think? Most folks would probably answer this question with a resounding YES! But...what if I told you the answer is "No....you don't necessarily need a hardship to qualify for a Short Sale. You may be able to do a Strategic Short Sale". Heck, big business and lenders do them…

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Added by Bryant Tutas on August 16, 2010 at 12:53pm — 1 Comment

Short Sale Approval Letters ARE just OFFER LETTERS

Can not stress this enough.....EVERYTHING on a short sale is negotiable, including ANYTHING that comes over on an approval letter.....

If you or the Seller does not like wording, commission amounts, or short sale consequences, then ASK THEM TO CHANGE THE LETTER!!!!

Most will if you negotiate properly.

Now go kick some butts!!!

Ben Benita, Speaker, Author, Radio Guest

BBenita@Comcast.net

Added by Ben Benita on August 15, 2010 at 6:00pm — 2 Comments

If lender is not communicating, do you have an obligation to communicate that offer has fallen through?

Do you immediately call the lender to say the offer is kaput when you haven't heard from the lender in weeks on end?

Do you wait until you hear from the lender, hoping against hope that the short sale approval process -- whatever it may be -- is working its way through the channels and by the time you hear from the lender you will have another offer?

Of course, when contacted by the lender you should explain the situation, but should you remain silent until that call…

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Added by Janet English on August 15, 2010 at 11:16am — 2 Comments

BANK OF AMERICA SHORT SALES NEW PROGRAM TO GET DONE FASTER -LESS PAPERWORK??

Thanks to Tim & Julie Harris for getting the information on this this program Bank of America is hopefully going to implement soon. It is in the "testing" phase now.

This is what we all have been hounding the banks to do for a few years now. This…

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Added by Dawn Barrier Prominent Realty Gr on August 10, 2010 at 9:44am — 3 Comments

Don't Let Lenders Dictate Your Commission!

Hi folks. Recently one of our members over at www.ShortSaleSuperStars.com posted the comment below about a Short Sale she is working.

  • "I am outraged that we spend twice the time and work, sometimes working 12 months on a short sale deal and AUTOMATICALLY the lenders reduce our commission…
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Added by Bryant Tutas on August 7, 2010 at 6:13am — 2 Comments

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