Bank of America has a couple of new and updated news releases they just sent out..

1.  Bank of America Second Lien Release Guidelines: New and enhanced guidelines for Agents handling prperties with second liens on them.

• The Short Sale must be initiated on or after June 1, 2012.
• The Second must be attached to the First lien…

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ANOTHER SHORT SALE CLOSED; Indio, California   This one took some fancy footwork, but got it listed and closed in less than 90 days..whew!

Sellers came to me two weeks before Sale Date end of August.  There was a tenant in the house, and they would not allow entry to Buyers..so "contingent upon Inspections" was in…

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Closed another Short Sale in Rancho Mirage, California.  Recorded yesterday for $265,000.  Bank of America notes at approximately $485,000.  

 

My Seller is a lovely woman who LOVED this condo.  She and her husband spent many happy years there.  Her husband died a couple years ago, and it just became too emotional for her to live there.  Emotional as well as expensive.  She finally gave in and decided to short sale it with me. 

 

My Buyer is a Canadian who was…

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If you like the rush, the careening highs and crashing lows that makes your Adreneline course through your veins like you've being chased by an unknown intruder..try a Short Sale!  What a rush!  What a ride!  Kind of like a huge roller coaster zipping along....up, then down..back up, then down..yippee!

 

Even if you're a list agent used to the…

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Two loans..each with a diffferent Lender.  I have received BOTH approval letters.  COE is 5/27.  Buyers' money in the bank, inspections done, buyers on their way to Palm Springs..BOOM!

My cell rings..

"Hello, this is Kim"

"Yes, Kim, this is Bob, your closer for your loan #______"

"Hey Bob, great to hear from you!  What a surprise!  We're all set up…

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It's one thing to list a short sale and then hand it off to a negotiation company.  It's another to handle it yourself, keep your Seller and also Buyer's agent updated weekly, and then follow it through to a successful CLOSE!  I can do that for you!

 

To view my current listings and their status for the first quarter of 2011, please visit my…

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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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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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