It has been several months since I signed up for Short Sale Superstars. It is the one site I have found that has information that I like to say "you can sink your teeth in", it is not fluff but real time information to aid all of us with our short sales. I have been referring agents to this site everytime someone asks me a question.
Yesterday an agent in our office, who is on the buying end, was frustrated with an OCWEN short sale. The bank was not responding for an extension.…Continue
Added by Melanie Ross on September 29, 2010 at 4:14pm — No Comments
If you are a short sale buyer’s agent, it can often be frustrating waiting for any scrap of information for your buyer. After all, it might be three to five months before you get short sale approval. You don’t want to lose your buyer. It’s best to give…Continue
Added by Wendy Rulnick on September 29, 2010 at 7:10am — No Comments
Is there a HUMAN at Freddie Mac? As one of your largest investors, (80% of your stock I believe?), I was so hoping for some help with one of my Short Sales. Your CEO's have apparently decided that CHASE is a good investment as a "servicer" of a bunch of those under performing loans that I, and all of my tax-paying fellow-investors, are now holding the bag on.
I am challenging that decision.…Continue
Added by Kimberley Kelly on September 29, 2010 at 5:36am — No Comments
Added by Bob Hertzog on September 27, 2010 at 1:05pm — No Comments
My husband and I have submitted a fair offer on a property that was approved for short sale with Capital One. A couple of months have gone by and no one has gotten back to our realtor - I'm running out of time but REALLY want to buy this property. Is there some way to get in contact with someone at the bank? If I could just get in touch with someone I feel that I could work my way to the right person to get this moving!! Thanks in advance for any helpful info!!
Added by Wendy Rulnick on September 24, 2010 at 3:04pm — No Comments
Chase has approved the short sale of 1 Pine Ridge Trace, Destin Florida.
Added by Wendy Rulnick on September 23, 2010 at 3:30pm — No Comments
Flash back to summer 2009. 11XXX BridgeCreek Dr in Riverview was listed for sale (short sale). The owner could no longer afford to live there, so he moved his family to the panhandle, and left his home in the care of the listing Realtor. The home was empty, the power was off, and the pool started to resemble more of a swamp then an oasis. As the year dragged on, the house sat lonely and empty, no showings, no offers, and the price kept being reduced to try and force a sale. When the listing…Continue
Added by Nelis Van Rensburg on September 22, 2010 at 9:50am — No Comments
Hi folks. Today I want to clear up one big misunderstanding about the Equator.com system. For those of you that aren't familiar with Equator, Equator is the online portal that Bank of America and GMAC use to help expedite their short sales. Quite often I hear from agents, buyers and sellers that......"Equator accepted our offer" or "Equator denied our short sale." In fact, here's…Continue
Added by Bryant Tutas on September 21, 2010 at 10:00am — No Comments
This beautiful condo unit at The Palms in Destin Florida was just approved for…Continue
Added by Wendy Rulnick on September 20, 2010 at 2:00pm — No Comments
I had a short sale approval in November 2009 WITH 6% to agents, 3% closing cost credits, and $3040 to the second lien. Buyer could not get financing and pulled out.
Approval letter I got today, roughly 8 months later:
5% to agents
2% closing costs
$2080 to second lien
I have spent a GREAT deal of time trying to learn what the issue is and why the BIG change (Wells Fargo is the Servicer and they had no…Continue
Added by Ben Benita on September 20, 2010 at 11:37am — No Comments
We recently received an email (below) from a negotiator at WF. I was told FHA is not affected, but they are not detailing what Conventional investors are. Has anyone else received this?
Added by Lisa Smiley-Hayes on September 17, 2010 at 4:49pm — No Comments
I have been trying to get a short sale approved on a condo via Equator. I escalated the file and resubmitted and now the counter offer is even higher than the 1st time the file went through. Original counter was $72K now they countered first at $85K and now $75K with a 7K promissory note or 3K cash contribution and not paying a lot of fees - such as lawyer, wire, transfer and 2nd lien because they claim I did not give them 2nd lien holder's info though I put it in the comment section where…Continue