October 2010 Blog Posts (36)

HELP!

Looking for verbiage/clause/paragraph that someone has used for a client in asking the banks for a deficiency judgement release. If you have something you have used, please share. Thank you

Added by Sandra Salsbury on October 28, 2010 at 1:46pm — No Comments

Short Sale Package for Metlife/First Horizon

Does anyone have an official Short Sale Package for MetLife/Frist Horizon. I have a client selling condo and already have a buyer and we are in midst of preparing short sale.

Thank you,

Added by Esther Stonger on October 27, 2010 at 8:18am — 1 Comment

Riverside Ca, Bank of America's Foreclosure Moratorium and Potential Effects on Riverside County Real Estate !



Bank of America announced last week that it will not proceed with foreclosures in all 50 states while it reviews its procedures for foreclosures.

The question, is what effect does Bank of America's Foreclosure Moratorium have on the Riverside County real estate market and those who are facing foreclosure or considering selling their…

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Added by Cecilia Rodriguez on October 27, 2010 at 2:06am — No Comments

5 Reasons Foreclosure Prevention Is Like Halloween

5 Reasons Foreclosure Prevention Is Like Halloween



1. Tricks



I don’t know if kids do this anymore, but I remember part of the fun, the anticipation, of Halloween was coming up with a “Trick” to offer in exchange for candy – a joke, rhyme, hand stand, armpit noise or, if you were desperate, a song. Foreclosure prevention is like… Continue

Added by Jennie Blackburn on October 25, 2010 at 8:54am — 2 Comments

Short Sale Santa Clara County: Short Sale Success goes beyond commission!! Mike Sher (348)644-4700 California Certified Distress Property Expert



Short Sale Santa Clara County: Short Sale Success goes beyond commission!! Mike Sher (348)644-4700 California Certified Distress Property Expert

Short Sale Success goes beyond the commission check. We as realtors, have…

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Added by Mike Sher on October 24, 2010 at 9:48am — No Comments

Bank of America Approves Shalimar FL Short Sale - With Suprise

Bank of America has approved the short sale for 27 9th Street, Shalimar Florida townhome in Country Villas. The original mortgage was for $104,000. The sale price will be about $60,000.

The really good news for these Shalimar short sale sellers? No deficiency!…

Bank of America short sale approval

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Added by Wendy Rulnick on October 22, 2010 at 1:35pm — No Comments

San Francisco October 22, 23 and 24th. Looking for a Short Sale Realtor to share ideas

San Francisco October 22, 23 and 24th. Looking for a Short Sale Realtor to share ideas

I am an agent from the Metropolitan Detroit Area. We have closed over 60 short sale in the past 30 months. We have sold 52 house year to date. I will be in San Francisco

October 22, 23 and 24th. Looking for a Short Sale Realtor with a

similar book of business to share ideas with out the fear of future

competition. Please email me at…

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Added by Mike Sher on October 21, 2010 at 9:54am — No Comments

Short Sale Birmingham / Bloomfield Eagle article by Mike Sher, Max Broock Realtors, Certified Distress Property Expert

Short Sale Birmingham / Bloomfield Eagle article by Mike Sher, Max Broock Realtors, Certified Distress Property Expert

Mike Sher team has closed over 50 short sales in the past 24 months. We are…

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Added by Mike Sher on October 21, 2010 at 7:45am — No Comments

The Note Marketplace

Curious how to use Notes as a tactic to workout the short sale you are currently working on? Many lenders will prefer to sell them their note on the home that you as listing agent have inherited and are trying diligently to get approved so you can make a commission from closing your workout transaction. The Problem is you have heard about Notes but never really worked through the note settlement process. The process, the paperwork, the settlement, the agreements. How would you like to work with… Continue

Added by Craig Barry on October 19, 2010 at 3:55pm — No Comments

information on VA loan deficiency forgiveness in CA

I am selling my house that the mortgage is through Citimortgage and it is a VA loan (JEMC?).

I bought the house almost exactly 2 yeas ago for 285k and the only offers I have received are for $145k and $150k.

My concern is that the deficency will not be forgiven by the VA and due to my salary reduction I could not afford to pay back the deficent amount.

My realtor is not familiar with the VA process only telling me that all of the short sales they have done the deficent…

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Added by Phil Johnson on October 19, 2010 at 7:28am — No Comments

Lou Baron

How does the new legislation impact investors who purchase condos at county courthouse foreclosure auctions? What is the extent of the liability on back association dues and attorney's fees?

Added by Lou Baron on October 19, 2010 at 5:18am — No Comments

Wachovia/Wells Fargo, New Direction is not a good one.

Most of us are familiar with how good it is to work with Wachovia and Wells Fargo. In fact my history with them has been my Short Sales can close within 30 days if the package is in "Fast Track". Last month I have found that they are taking a new and disturbing direction of pushing all short sale packages through HAFA, even when they know that the Borrower/Seller will not qualify. Several other Agents in my area are having the same problem.

I have 2 short sales stalled and all… Continue

Added by Keith W. Conaway on October 18, 2010 at 3:13pm — No Comments

Does a Potential Moratorium w Foreclosure mean an Avalanche of Note Buying?

If any of you are working Nat City or PNC short sales please contact me. May have a better solution than a Short Sale and if you are working short sales you know what I mean. We are developing a list of banks interested in selling notes at better discounts and in better turn around times. If this sounds like an anser to prayer contact me. If you have multiple deals with these lenders that are stuck- Then you should REALLY contact me. Best Craig

Added by Craig Barry on October 18, 2010 at 10:47am — No Comments

The True Picture of Short Sales and Foreclosures In Central Florida

Foreclosures and short sales have changed the way we look at we real estate. Instead of looking for the ideal home to raise a family in Buyers now just want a deal. It's all about the price and getting the best house for the least amount of money.

But what I see as a Florida Real Estate Broker is broken dreams and lives. Families uprooted and torn apart. The frustration and stress of losing…

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Added by Bryant Tutas on October 15, 2010 at 3:00pm — No Comments

A to B to C transactions. What is the skinny on these?

Hi Superstars.

I have a seller who signed an "option" contract with an investor. It does not appear to me to be a real offer to purchase, but rather an offer to market for an end buyer with the option to purchase at a lower price. So I am reluctant to ask my title comany to do a preliminary HUD-1 for something I don't quite understand.

Most of the investors who contact me as a short sale specialist want to do something similar to this. Meantime, I've heard from…

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Added by Elva Branson-Lee on October 14, 2010 at 7:42pm — No Comments

DO Your Short Sale Emails Convey or Confuse?

Problem: The short sale lender, Chase, has called you and left a rambling voice mail. There are three items you are required to get from your seller, or they will "close the file”.…

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Added by Wendy Rulnick on October 14, 2010 at 4:30pm — 2 Comments

Short Sale vs. Loan Modification

Consider a SHORT SALE if:



  • Unemployed or significant
  • Reduction in income
  • No longer want the home
  • Loans greatly exceed the value of the home (most home owners owe 50% more than the current value of their…
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Added by Rob Kittle and The Kittle Team on October 13, 2010 at 3:19pm — No Comments

House Bill Would Force Lenders to Decide on Short Sales in 45 Days .

I just like to share with you this article about What the House bill is doing to force Banks to speed up the process of Short Sales. It's a great idea but are they able to pass this so that the process won't take so long for Homeowners and for Buyers. I sure do hope so. Someone has to do something..... http://House Bill Would Force Lenders to Decide on Short Sales in 45…

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Added by Donna Paul on October 13, 2010 at 9:11am — 1 Comment

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