Bank of America Short Sale Listing Sold in Overland Park.



We are proud to say that another of our Metro Kansas City realty listings has sold via a short sale.



The loan was with Bank of America with a second lien to People's Bank. This Kansas City realty Seller was not required to sign a promissory note and no funds… Continue

 In my ten years in general residential brokerage in the Lake Norman area of North Carolina I've seen a major change in the way I need to plan my business. In our region, which includes the Charlotte area, we did not experience the "bubble" to the extent that of other areas of the country did except for the Lake Norman waaterfront community which had a 29% price increase in 2007.  Generating business in multi million production numbers was accomplished if one stayed focused & directed…

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We are proud to say that another of our short sales listings has received an approval on the submitted short sale contract. This …

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So, I know- short sales can be like taking the widing path to what could be something so straight and narrow. In fact, Peter Sharp and I have been helping many folks avoid foreclosure even before it became popular to do so.

And although it seems difficult enough to have to make sure every part of the contract is complete - which sometimes takes a great deal of effort on our part to get the info. from the seller, to making certain that although we have a new negotiator every week, we…

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Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so.







In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are not owned by Bank of America.…







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What to do right now if you are facing foreclosure of your Kansas City home. Having assisted numerous individuals and families facing the foreclosure of their Kansas City homes, for both Kansas and Missouri, I have witnessed first hand the need for educating the public as to foreclosures and short sales during what is a difficult and emotional time.



As we continue to hear in the media,…

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You may have been reading about Bank of America short sale approval letters and some changes that have occurred. The Bank of America Short Sale Approval Letter has had various versions dealing with deficiency of the promissory note. This article will look at the BoA short sale letter recent changes.

History - Before June 2009

Until June 2009 the typical Bank of America short sale approval letter was not a release of mortgage and a release of…

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I'm sure you have heard about forensic loan audits. I've heard people say how wonderful they are. "Your lender will approve your short sale right away", claims one.



Discover how other sellers successfully did a short sale and request a free consultation by clicking… Continue

Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. "We won't approve the file without the financials completely filled out," they say.







Or, they tell you the numbers won't work when the investor guidelines actually say to approve the short sale. If the agent doesn't know who owns the loan (or… Continue

So you've probably heard that Freddie Mac is once again asking for federal aid. They showed a $4.1 billion loss in the third quarter and are now requesting another $100 million in aid. All told, it's estimated that the bailouts will cost taxpayers $259 billion.

As an agent that focuses largely on short sales, I continually see the ways that Freddie Mac gets in their own way. They are asking for this aid, but they have put themselves i nto the situation that…

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This gorgeous home off 30-A in Santa Rosa Beach Florida has been approved as a short sale. Located in Lakeside at Blue Mountain Beach, next to Redfish Village, this home was architect-designed with two master bedrooms and many upscale finishes.



First Mortgage: Regions - balance…

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When Homeowners have financial troubles, the last thing they fall behind on is the mortgage, but the first thing they stop paying is Association dues. Because of this, many Condo & Homeowner Associations in Florida are squeezed for funds and have become aggressive in pursuing every penny. They now have legal representation, have been successful in litigating similar cases, and are not as likely to back off.



What bank negotiators don’t… Continue

Hi folks. If you have been paying attention to the news over the last couple of weeks then you know that Chase, GMAC and Bank of America have suspended foreclosures in 23 States, including Florida. This is all related to employees signing documents and submitting them to the courts even though they never read them.

On top of this, the Attorney General in Florida is investigating 4 law firms for filing fraudulent…

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Farmington Hills, MI Short Sales increase by 126% in 2Q 2010. "Each Short Sale is One Less Foreclosure" Says Mike Sher, CDPE (Certified Distress Property Expert) Max Broock Realtors (248) 644-4700 x242 or

www.ShortSaleOaklandCounty.com

This U.S. Treasury 2Q 2010 Mortgage Metrics Report below clearly shows that our distress real estate market will continue to be with us for…

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Part of rebuilding New Orleans caused residents often to be challenged with the task of tracing home titles back potentially hundreds of years. With a community rich with history stretching back over two centuries, houses have been passed along through generations of family, sometimes making it quite difficult to establish ownership. Here’s a great letter an attorney wrote to the FHA on behalf of a client:



You have to love this lawyer……..



A New Orleans lawyer sought an FHA… Continue

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.…

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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…

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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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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

[email protected]

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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