All Blog Posts (2,096)

Rushmore Loan Management Services and Citi 2nd

ARE SHORT SELLERS STILL GETTING THE SAME $10K RELOCATION AND HOW MUCH SHOULD I OFFER TO SECOND MORTGAGE ON THIS CASE. BIG THANKS FOR YOUR COMMENTS!

Added by wally pelaez on January 12, 2016 at 1:55pm — No Comments

Chase has the second lien

I live in New Jersey and want to buy a short sale in Perth amboy NJ.  Wells FARGO has the first mortgage and chase has the second lien on the property.

The short sale has been approved but Wells Fargo wants to give Chase only 6000 dollars but Chase wants 12,300.

Both of them are not agreeing on the amount.

The sale price of the property is 250,000 which I am ready to pay. What should I do. I am in a fix.  

Added by Jayanti Hegde on November 16, 2015 at 11:39am — No Comments

Franklin Still Killing Short Sales

I was hired by the listing agent to save this short sale  Franklin played their silly games. We offered $12,000.00   They countered back at $20,000.00  Buyer walked. Month and a half later obtained new buyer, whose offer was approved by  and the first lien holder, and allowing $20,000.00 to Franklin. They came back and countered at$28,000.00 claim they have new guideline. That is a crock.  This one will end up in foreclosure. Other than preaching to the choir, who can we reach out to stop…

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Added by Tony Morales on October 22, 2015 at 8:11am — No Comments

Appraisals

I am currently having problems with appraisal coming in to high.  This makes it difficult to get offers on these properties.  I keep fighting the appraised values but it seems like it is an endless task.  I have found contacting the Financial Consumer Protection Bureau has helped is most cases.  They don't ignore you they respond with in a few days.  I have managed to over turn appraised value with their help.  I don't know if anyone else is having these problems but please share with me any…

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Added by Debra Berry on October 1, 2015 at 1:24pm — 1 Comment

VA Compromise Sale with Junior Lien Converted to Personal Loan, but...

Hello all,



I have a VA short sale, Wells Fargo first lien holder and CitiFinancial holding second.  Wells Fargo already appraised the property, so I know the minimum net amount Wells wants to receive at closing.



In order for Citi to release the second, Citi wants the seller to pay $1,000 "good faith deposit" at…

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Added by Frank Biganski on June 23, 2015 at 2:34pm — 3 Comments

HAFA and judgments

Hello - does anyone know if HAFA payout to 2nd lien holder $12,000 can be applied to judgments on title?  There is no 2nd lien holder.

Added by Jill Schappel on May 27, 2015 at 1:18pm — 1 Comment

Reverse Mortgage Short Sales

Finding out if IndyMac or any other banks will do reverse mortgage shortsales.

Anyone successful with one?

Added by Eric Middlebrook on May 19, 2015 at 4:04pm — 1 Comment

Items that Repel Homebuyers

Items that Repel Home Buyers

The seller’s market that was so prevalent a few short years ago seems to have shifted in favor of the home buyer. Thanks to an overall improvement in the economy and home prices that have risen by 10% or more for the past year, buyers are becoming a bit more selective about their purchase. Here are some items that scare buyers off and what you can do to fix it.

Foul Smells…

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Added by Michael Collins, CDPE, SFR on May 14, 2015 at 7:01am — No Comments

PHH Mortgage CitiMortgage

1st mortgagee, PHH is requiring Citi, 2nd Mortgagee to provide Deficiency Waiver. PHH is giving defiency waiver. Borrower is investor recently discharged from bankruptcy. Citi, who is getting the usual $6,000 says no.

Since PHH is not giving waiver out of the goodness of their heart I'm assuming the borrower bankruptcy is the reason. If so anybody have an opinion why Citi is unwilling?

Added by Alfred R Wetzel on April 24, 2015 at 9:22am — No Comments

Getting your Ducks in a Row before Purchasing your Next Home

The real estate downturn of the mid-2000s is mostly over and the market is heating up, with prices rising in all over the U.S. In Wisconsin, the real estate market might be even healthier than in other locales, with new and existing home prices expected to rise 2.4 percent by early 2016. It might just be the perfect time to buy, but before you make any offers, you need to do a little planning to make sure you can pay out over the long run,…

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Added by Michael Collins, CDPE, SFR on April 22, 2015 at 7:17am — No Comments

What You Need to Know About Australia's Rate-Busting Franchise Success

Can franchising be the turning stone in the financial progress of Australian investors?

Reveal the story behind the over 90% prosperity in the Australian franchise sector and discover how becoming a small business owner…

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Added by Veronika Adriane on April 21, 2015 at 12:00pm — No Comments

Wisconsin March 2015 Housing Statistics

Home Sales and Median Prices Grow Substantially in March

The Wisconsin housing statistics are in for the month of March, 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:


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The Wisconsin housing market grew substantially in…

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Added by Michael Collins, CDPE, SFR on April 20, 2015 at 10:05am — No Comments

Wisconsin February 2015 Housing Statistics

Welcome-to-Wisconsin Home Sales and Median Prices Grow in February

The Wisconsin housing statistics are in for the month of February, 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:


~~~~~

The Wisconsin housing market showed…

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Added by Michael Collins, CDPE, SFR on March 25, 2015 at 6:17am — No Comments

One of my LONGEST Short Sales in many years!

Good grief!  Two notes..ok, I know it's going to be difficult, but so what?  Shorts Sales are never a slam dunk, and I've done so many now that that just didn't deter me. 

The first is with OCWEN, who have become much easier to deal with.  It's the second that have caused me problems.  Real Time…

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Added by Kimberley Kelly on March 16, 2015 at 6:20am — 1 Comment

What Is The Purpose Of An Appraisal?

What is the Purpose of an Appraisal?

 

A mortgage has many specific pieces involved in it. Obviously there is the money supplied by the lender to pay the seller for their asking price. There…

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Added by Michael Collins, CDPE, SFR on March 11, 2015 at 8:07am — No Comments

Chase short sale, FHA investor - Help!

I think Chase has gone off the rails, I have been working on this short sale since June, Chase wants appraised value, which of course if high.  The problem they are so understaffed they keep ignoring the file or kicking it out.  I have an offer in and they have turned down an offer and one has walked because of the repairs needed on the home.  I went to OPS and they told me the reason it is taking to long to respond is because each agent has over 200 files to work!  I was told by another…

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Added by Karen Curtis on March 7, 2015 at 10:37am — 1 Comment

10,000.00 incentive

is anyone aware if fannie and Freddie are giving the 10,000.00 relocation incentive

Added by Tony and Robin Pickett on March 7, 2015 at 6:56am — 1 Comment

USDA Short Sale

Any one had this happened before.  The day after closing I received a call from my seller stating USDA intercepted his tax refund?

Added by Madeline Soto on March 6, 2015 at 10:43am — No Comments

SEEKING FAMILIES IN FINANCIAL TROUBLE

Is Your Family dealing with a financial crisis?



New TV show for SPIKE TV may be able to help.



Looking for families who are living above their means , downsizing , maxed out, or facing foreclosure of home or business . 



Corporate strategist and fortune 500 Business Strategist, Victor Antonio, will meet and help families who are facing a fiscal calamity.



With a mix of expert guidance and tough love,…

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Added by Rob Marrocco Jr. on March 2, 2015 at 11:21am — 1 Comment

Cape Coral Short Sale Question: How Is Short Selling A Rental Different From Your Personal

How is the short sale process different for a homeowner versus a rental property? Is the owner of a rental property more likely to have a deficiency judgment and/or be taxed on the deficiency than a someone short selling their own home? Brett."



Here was our answer to Brett's question Yes, short selling a rental property is much different.



(The scenarios below are for a property you bought as a rental, not a property you bought to live in and then started to rent…

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Added by Donna M Bishop on March 2, 2015 at 9:21am — No Comments

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