Brett Goldsmith's Blog – September 2012 Archive (5)

Short Sales: Review The Preliminary Title Reports, Don’t Just Have Them Pull

What is a Preliminary Title Report?

A title is a legal document listing the history of ownership of a home. After the buyer and seller have reached mutual acceptance, an attorney or title company will pull title on the subject property and review it for any problems that might prevent the home from being legally sold. The results are written up in a preliminary title report.

Review the Title Report – Lesson 1

Throughout the years we have learned that having a Preliminary…

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Added by Brett Goldsmith on September 30, 2012 at 8:00am — No Comments

Is Chase Actually Rolling Out Equator Now?

We all have heard for quite some time now that Chase is going to begin using equator, but it has yet to take place. It seems it may be closer now than ever before. A negotiator at Chase yesterday took down our email address and stated that it was for preparation of the equator system taking effect. We proceeded to dig deeper ... For the entire article click here

Added by Brett Goldsmith on September 27, 2012 at 2:26pm — No Comments

WHY AGENTS CHOOSE TO NOT USE SHORT SALE NEGOTIATORS

Anyone who has participated in a short sale knows that it can be highly stressful and that it is not always a quick process. The fact is processing a short sale efficiently takes a lot of experience and is continuously changing.

ARE THERE COMPANIES THAT CAN PROCESS MY SHORT SALE?

There are individuals and companies out there who offer the service of processing a short sale on behalf of the agent/homeowner. Some of the individuals/companies out there…

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Added by Brett Goldsmith on September 24, 2012 at 1:55pm — No Comments

BANK OF AMERICA: New Short Sale Process Service Release Policy

Bank of America has and will continue to release pools of loans. No loan is safe from a service release even if it is an already approved short sale. This seems to be even more interesting because the lender the file is going to seems to be largely dependent on the state the property is in. A large amount of the serviced released loans in the state…

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Added by Brett Goldsmith on September 19, 2012 at 2:38pm — No Comments

Bank Of America - Pre Foreclosure Sales( FHA short sales ) & Loan Modifications

In processing Bank Of America short sales where borrowers have FHA loans we have seen serious delays in getting files into active short sales where the homeowners have not previously attempted a loan modification. Some people may ask " was a new policy put into effect that in order for a homeowner to do Pre Foreclosure Sale that they must first attempt to do a loan modification ?" In fact this is not a new policy and is a requirement for all FHA loans. The only way to get around from a…

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Added by Brett Goldsmith on September 15, 2012 at 2:01pm — 1 Comment

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