Ben Benita's Blog (15)

Sorry.....There's Just No Such Thing As A Great "But"!!!

While it IS possible to have a great "BUTT", eat right and get in those squats, there is simply NO such thing as a great "BUT"!!!!

I could lose the weight.....BUT

I could improve my relationship....BUT

I could get more clients...BUT

I could close more short sales...BUT

 

Just be honest....start following "but" with this phrase:

"but....it's just not that important to me"

and watch how it puts things…

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Added by Ben Benita on January 28, 2018 at 5:30pm — No Comments

"Short Sale Tip - How To Get Your Voice Mail Heard FIRST!!!♥♥♥

When leaving a message, ALWAYS hit the "#" sign after your message.

Not all, but most messaging systems will allow you to mark your message as "urgent" after you do this.

What does this mean?

When marked as…

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Added by Ben Benita on March 28, 2014 at 4:13pm — No Comments

✰"Short Sale Tip - How To Get Your Voice Mail Heard FIRST!!!"✰

When leaving a message, ALWAYS hit the "#" sign after your message.

Not all, but most messaging systems will allow you to mark your message as "urgent" after you do this.

What does this mean?

When marked as…

Continue

Added by Ben Benita on March 14, 2014 at 11:11am — No Comments

Which Banks Are Currently Paying 8% - 10% commission to agents on their Portfolio Loan Short Sales?

For those that saw us on the short sale cruise in February – YOU ALREADY KNOW!!!

 

For those agents that are currently making better use of their time and letting us process your short sales – YOU ALREADY KNOW!!!

 

FINALLY you can get what you are worth!!!

 

Short sales are can take dozens of hours to complete and some banks finally are admitting THEY LOSE MORE MONEY when they have to foreclose!!!!

 

In our first monthly newsletter -  …

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Added by Ben Benita on July 27, 2013 at 3:51pm — No Comments

Should Your Seller Miss Payments - WELL, WHEN PAYMENTS ARE LATE, FREDDIE MAC WILL APPROVE A LOWER OFFER!!!

Servicer - Wells Fargo

Investor - Freddie Mac

Mortgage Insurer - NONE



We received this in Equator this morning, apparently:

Equator Message:

Offer in Review The Investor is requiring a net of $242,000 based on the deliquency of this file. Discuss with the buyer how they would like to reach the net requested. Due to the fact that the borrower is current on the mortgage, the minimum net proceeds (mnp) is substantially higher than a property…

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Added by Ben Benita on July 18, 2013 at 5:00pm — No Comments

I think I now have 6 different ISSUES with B of A that I would LOVE to tell local media about. My newest one, input WELCOME

B of A HELOC is DEMANDING that the Buyer pay for and SEND THEM an appraisal.

Without this, he will close the file.
My negotiator actually told me to FIND A NEW BUYER, one that will pay for and SEND THEM an appraisal?????!!!!

Are you Serious!!!!
I have escalation contacts....but this is just ABSURD!!!!

WHY WOULD ANY BUYER PAY FOR AN APPRAISAL FOR THE BANK BEFORE GETTING AN APPROVAL LETTER!!!

DUMB DUMB DUMB (kindest words I could find)

Added by Ben Benita on July 16, 2013 at 11:13am — 5 Comments

Short Sales - 8 years in, first time I have had this happen!!!

We have been helping agents all over the country process their short sales and THIS IS A NEW SITUATION:

 

We were working with a smaller bank and THEY ACTUALLY ASKED US TO HELP THEM WRITE THEIR APPROVAL LETTER!!!

Yep, first short sale the bank had ever done.

 

They asked us what documents they needed to see, and, asked us to send them a copy of an approval letter from another bank so they could see what it looked like.  The short sale was quickly approved…

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Added by Ben Benita on July 7, 2013 at 1:49pm — 3 Comments

Just when I thought MAYBE B of A had turned the corner.....NOPE....They Still Hire INCOMPETENCE!!!!

......and I quote:

"......no Mr. Benita, you are not yet authorized on the account so I can NOT GIVE YOU THE PHONE NUMBER FOR THAT DEPARTMENT!!!"

Uh....really?  I need to be authorized for you to give me a phone number?

NEEDLESS to say I called someone I know at the bank and "got my way"......BUT IT SEEMS B of A STILL has some MORONIC policies!!!

Best of luck to ANYONE dealing with these!!!

Added by Ben Benita on March 22, 2013 at 11:01am — No Comments

WTF is "litigation status" on a short sale?!?!?!?!

New one -

Anyone know WTF "litigation status" means?  

Pardon the "WTF" if you are offended but I hit a roadblock this afternoon with a SCHMUCK of a negotiator who said she could not even tell me what that means!!!!    

We can do NOTHING on the file while it is in this status and I am trying to see exactly what it is (I do have calls in to higher ups but figured I would check here as well).....

Any input is welcome, I am at…

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Added by Ben Benita on March 18, 2013 at 4:45pm — 4 Comments

Advanced Question - What is the difference between the Investor and the Trustee on the note?

I am working on a NIGHTMARE short sale with........



Can anyone guess?



Bank Of America - WINNER WINNER WINNER



I was told the Investor on the note is Bank of NY.

Contacted them directly, and, they said they are the "Trustee" on the loan and that B of A has final and sole decision making power?



Huh, anyone know the difference or can better explain what the "Trustee's" role is on the loan or short sale?



I have calls in to the 3 persons I… Continue

Added by Ben Benita on June 12, 2012 at 10:10am — 4 Comments

Bank Of America FOECLOSED ON BY HOMEOWNER - YOU JUST GOTTA LOVE THIS!!!!!

 

You know you will love this:

 

http://www.huliq.com/3257/sweet-justice-main-street-homeowner-forecloses-bank-america

 

B of A foreclosed on a guy that paid CASH for his home......the guy TRIED to get it straight with B of A, they ignored him (can anyone here relate to being ignored by B of A)????

 

He took them to court, WON, was ignored…

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Added by Ben Benita on June 8, 2011 at 6:47am — 2 Comments

Why we ALL HATE EQUATOR - New Buyers

I have an escalated file with B of A, and, after 14 months hanging in there, the Buyer pulled out while we were working on obatining a short payoff on teh delinquent condo fees (can't say I blame them for walking after 14 months).

 

With an APPROVED dollar amount, we quickly found a new BUyer, and, were just informed that WE GET TO START THE PROCESS OVER BECAUSE EQUATOR DOES NOT PERMIT BUYER NAMES TO BE SWITCHED).

Good times and teh Buyer, Seller, agnts, attorneys and…

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Added by Ben Benita on June 1, 2011 at 4:24pm — 1 Comment

Fannie Mae Help - contact needed....total BS...pardon the language, but, I call'm as I see'm

Quickie -

I had a short sale approval in November 2009 WITH 6% to agents, 3% closing cost credits, and $3040 to the second lien. Buyer could not get financing and pulled out.

Approval letter I got today, roughly 8 months later:

5% to agents

2% closing costs

$2080 to second lien

I have spent a GREAT deal of time trying to learn what the issue is and why the BIG change (Wells Fargo is the Servicer and they had no…

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Added by Ben Benita on September 20, 2010 at 11:37am — No Comments

Short Sale Approval Letters ARE just OFFER LETTERS

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]

Added by Ben Benita on August 15, 2010 at 6:00pm — 2 Comments

Free Short Sale Tip You Can Use ASAP

One of the simplest negotiating tips:

When you leave a voice mail message for your negotiator (I know, they…

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Added by Ben Benita on February 18, 2010 at 12:30am — 12 Comments

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