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…Continue
Added by Tony Morales on October 22, 2015 at 8:11am — No Comments
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…Continue
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…
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.
Finding out if IndyMac or any other banks will do reverse mortgage shortsales.
Anyone successful with one?
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.
Added by Michael Collins, CDPE, SFR on May 14, 2015 at 7:01am — No Comments
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
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,…Continue
Added by Michael Collins, CDPE, SFR on April 22, 2015 at 7:17am — No Comments
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…Continue
Added by Veronika Adriane on April 21, 2015 at 12:00pm — No Comments
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:
The Wisconsin housing market grew substantially in…
Added by Michael Collins, CDPE, SFR on April 20, 2015 at 10:05am — No Comments
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…
Added by Michael Collins, CDPE, SFR on March 25, 2015 at 6:17am — No Comments
The first is with OCWEN, who have become much easier to deal with. It's the second that have caused me problems. Real Time…Continue
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…Continue
Added by Michael Collins, CDPE, SFR on March 11, 2015 at 8:07am — No Comments
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…Continue
is anyone aware if fannie and Freddie are giving the 10,000.00 relocation incentive
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
Is Your Family dealing with a financial crisis?
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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…
Added by Donna M Bishop on March 2, 2015 at 9:21am — No Comments
The Wisconsin housing statistics are in for this January of 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Existing home sales fell in January but median prices rose at a healthy…
Added by Michael Collins, CDPE, SFR on February 26, 2015 at 8:16am — No Comments
is anyone aware of how much the 2nd lien holder gets, I was told by one lender the amount is 12,500.00