Two Loans with Two Lenders:  Short Sale Closed with Bank of America & Greentree Servicing

This was a pretty difficult short sale, but we got it closed. Short sales with two different lenders can be tricky and time consuming.  Often they have different or unique documentation requirements.  Some lenders,…

Equator & Short Sales

You are probably wondering, what isEquator and how does it affect your short sale?  Equator is a web based computer portal/platform that allows your short sale agent to communicate and process your short sale in an efficient and secure fashion across the web.  Most of the major lenders, including Bank…

In California, a Notice of Default will typically be filed by the lender after the third missed payment.  Once a Notice of Default is filed, the lender has begun the formal process of foreclosure.  Three months after a Notice of Default is filed, the lender may file a Notice of Trustee’s Sale setting a foreclosure sale date.  The Notice of Trustee’s Sale can be posted 21 days before the foreclosure auction sale date.  So, in California, once…

5 Fun Facts About Fannie Mae Short Sales

Is there anything fun about short sales?  Well probably not a lot.  But certainly, they are more fun when they are approved quickly.  Some of my favorite short sales have been on Fannie Mae loans.  I’ve had a Fannie Mae streamlined short sale with Bank of America that was approved in 22 days with a seller incentive paid and no financial documents required.  And…

Two Lenders – Bank of America and GMAC – Another Successfully Closed Short Sale!

This BofA and GMAC short sale took about 67 days for short sale approval.  It could have been a lot quicker but there were a few bumps in the road.  The first loan was owned byFreddie Mac.  I tried to make the…