Featured Blog Posts (24)

Short Sale Processing Support

Why Use A Short Sale Processor?

“No one can whistle a symphony. It takes a whole orchestra to play it.” 

Some agents will not touch a short sale file without their processor(s) and others are scared to relinquish any control whatsoever. We come across a mix of both and find that once an agent has a processor who adds enough value to their business they will never turn back.

A processor should know 10X than you about short sales and everything that goes into…

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Added by Brett Goldsmith on December 13, 2016 at 3:13pm — 1 Comment

Wisconsin April 2014 Housing Statistics

Welcome-to-Wisconsin The Wisconsin housing statistics are in for April of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin existing home sales fell in April even as median prices continued to rise according to the most recent analysis of the state housing market…

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Added by Michael Collins, CDPE, SFR on May 30, 2014 at 7:14am — No Comments

We cannot overstate how hard Mike worked on our behalf

Rock Realty Client Testimonials



"We found Mike online, and, due to positive reviews, phoned him with a request to view houses in the Madison area. We gave Mike no more than one or two days notice, but he was happy to devote the whole of his weekend to us. Our entire house-hunting experience proceeded in similar fashion. We were hunting for houses long distance, so we would wait until an opportunity to travel to Madison presented itself, phone Mike,…

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Added by Michael Collins, CDPE, SFR on September 5, 2013 at 6:56am — No Comments

Realtors entering the path of Enlightened activities

Helping a home owner prevent foreclosure is a noble cause. Those realtors who wish to commit themselves to this cause are entering the path of Enlightened activities. However,  not everyone will be a success. It is more profitable to flip homes than work on a short sale for months only to see…

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Added by Saurabh Singh on August 17, 2013 at 7:17am — 1 Comment

How to Get VA Compromise Sale Approved Netting Less Than 88.13%

VA Compromise Sales

I just got an amazing approval on a Crestview Florida VA Compromise Sale from BB&T!  You know the Veterans Administration requirement that the net proceeds of the sale be no less tham 88.13% of the appraised value? And the requirment that the VA Compromise Sale appraisal is firm for six months? This was a breakthrough approval…

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Added by Wendy Rulnick on August 2, 2013 at 2:45pm — 2 Comments

Picking a Profitable Rental Property

photo credit: contemplative imaging via photopin cc

How to Pick Profitable Rental…

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Added by Michael Collins, CDPE, SFR on July 16, 2013 at 7:29am — No Comments

FLORIDA NEW FORECLOSURE LAW - HOW IT AFFECTS BROKER ADVICE TO CLIENTS

If you have a client that has a just filed or soon to be filed residential foreclosure action in Florida, what new timelines can you expect under the new Florida Foreclosure Law?  Effective with all NEW lawsuits filed on or after July 1, 2013 the new streamlined foreclosure procedures law will govern how fast the lawsuit will proceed – or at least that is the theory behind the new law.  Reality can be quite something else.

Under the law as it existed before June 7, 2013 (the date…

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Added by Richard Zaretsky on June 25, 2013 at 4:58am — 1 Comment

Are All Short Sales in Los Angeles Always a Success?

Unfortunately, not all Short Sale properties that are listed for sale in the Los Angeles area will close escrow. First, what is a Short Sale? If a home's current market value is less than the mortgage balance owed and the homeowner (borrower) cannot afford to make the mortgage payments, they…

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Added by Sara Mehrpouyan Los Angeles CDPE on June 25, 2013 at 10:27pm — No Comments

WITH FOREIGN BUYERS AND SELLERS - REALTORS NEED TO KNOW ABOUT FIRPTA

With foreign buyers again flocking to buy United States real estate, it is important as a Buyer Realtor to remember to advise them of their obligations and liabilities when they sell it.  FIRPTA (Foreign Investment in Real Property Tax Act) has been around for decades, yet many Realtors forget to tell their foreign buyers of the implications of FIRPTA when the foreigner is looking to buy, thereby possibly short changing their client on options and surprising them with expenses when they…

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Added by Richard Zaretsky on June 5, 2013 at 5:48am — 1 Comment

NEWSLETTER: Is There An Automatic Deficiency Waiver With A FHA PFS?

 

Good morning Superstars,

 

Here's a sampling of this week's Superstar discussions.

 

Discussions Replies…
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Added by Bryant Tutas on May 12, 2013 at 3:30am — No Comments

Beware of Fraudulent Short Sale Schemes - and the Fraudsters who perpetrate them. (Source: www.FBI.gov)

Short Sale Schemes



A real estate short sale is a type of pre-foreclosure sale in which the lender agrees to sell a property for less than the mortgage owed. Short sale fraud consists of false statements made to loan servicers or lenders that take the form of buyer or seller affirmations of no hidden relationships or agreements in place to resell the property, typically for a period of 90 days. One of the most common forms of a short sale scheme occurs when the subject is alleged to… Continue

Added by Becki Weaver on May 7, 2013 at 7:35am — 1 Comment

Us Bank approves short sale then rescinds it! anybody else?

The corruption of the banks continue here still in Las Vegas! Us Bank approved a short sale after 8 months of gruelling work only to delay in approving the final closing Hud ( nearly two weeks ago).  The Presidential office now inform me they are rescinding the agreement as they state the seller makes too much money!  This after they already approved sellers based on pay stubs and current tax years.  Anybody else have a similar experience?  We are starting the fight and intend to expose…

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Added by Walter Dowling on May 8, 2013 at 11:32pm — 3 Comments

Sometimes we need to educate the buyer agent for our short sale if they do not have experience with short sales

Short sale listings are different from listings where the seller has equity. When we receive an offer on the listing and the seller agrees to the price it does not mean that the lender will accept the price. We mention a settlement date in the original accepted offer but may not hear from the lender until after that date.

When I receive offers on a listing I talk to the buyer agent and explain how the process works and also state that it is important for them to provide any…

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Added by Gita Bantwal on April 11, 2013 at 7:10am — 1 Comment

Your Short Sale is Declined! Bank of America's Version of "DENIED!"

I finally broke down and responded to an automated Bank of America email survey.  The email was titled "Help Us Improve Our Process."  I received the email because one of my Destin short sales was declined in Equator. Why? Our seller was a day late getting us newly requested documents.…

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Added by Wendy Rulnick on April 7, 2013 at 6:24am — 1 Comment

Banks Are Prohibited From Entering Into Real Estate Brokerage And Management Businesses? Really?

 

Good morning Superstars.

Banks prohibited from entering into real estate brokerage and management businesses? Right. And pigs fly.

In 2001, the Federal Reserve Board and the U.S. Treasury Department proposed rules allowing national bank conglomerates to engage in real estate brokerage and management. The rule would have reclassified these activities as financial in…

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Added by Bryant Tutas on March 20, 2013 at 5:38am — 2 Comments

From a Buyer's Perspective

Hello everyone. Mine will probably be a quite different blog from what you are used to seeing. I am a first time short sale buyer - not an agent, not a seller, and not an investor (per se), although this will be an investment property. I have purchased a property (completed foreclosure) via auction.com previously. Same seller (BoA). Start to finish we closed in less than 45 days with that transaction. I have read many of the comments on the…

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Added by Gregory J Bermes on March 6, 2013 at 9:12pm — 4 Comments

FREE Member Webinar: The New Short Sale Rules And Programs





SPONSORED By MAPS Coaching, Short Sale Superstars,

Short Sale Commander and Short Sale Inner Circle





Presented by MAPS Coaches Jacob Swodeck and Knolly Williams

(they have closed nearly 2,000 short sales)



THE NEW SHORT SALE RULES AND…
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Added by Bryant Tutas on March 5, 2013 at 4:00am — 1 Comment

I've killed my drunk monkey.....AGAIN!!!

When I began my career in real estate 7 years ago, I quickly learned to adapt to the world of declining home prices, BPO's, REO's, Short Sales, Asset Managers, yada yada yada.....you get the picture. Almost overnight, my entire business was centered around the distressed market. From a business standpoint, it didn't bother me. In fact, it fit right into my loss mitigation background and appealed to the analytical party of me. It wasn't the best scenario and could be extremely volatile at…

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Added by Vanessa Calhoun on February 19, 2013 at 6:48am — No Comments

10 Options for Homeowners to Avoid Foreclosure

PDF Version of this article - 10 Underwater Homeowner Options

Slipping toward foreclosure can lead to feelings of anxiety, depression, and loss of self-esteem. Don’t give up. There are options available to help millions of homeowners rescue themselves from…

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Added by Michael Collins, CDPE, SFR on February 13, 2013 at 10:25am — 2 Comments

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