Comment

Comment by Barbara A. Hill on June 30, 2010 at 5:10pm

Let me know if you have had enough of the Short Sales. There are alternatives! I Have had enough!

Comment by Mandy Herring on June 30, 2010 at 5:03pm

Has anyone dealt with Impac Mortgage. Bank of America assigned 2nd to them. They want one percent of the commission to negotiate the loan and the buyer's contact information to compete for the loan. So they get a portion of the loan for collecting and the 1 percent commission and the new loan.

Comment by Stephen Shafer on June 30, 2010 at 2:50pm

Where do you upload apprasails & comps at in Equator?

Comment by Cynthia Robbins on June 30, 2010 at 10:03am

Call HUD and ask them.

Comment by Barbara A. Hill on June 30, 2010 at 10:03am

Does anyone know if Fannie will help Agents? I called one number provided only for the woman to say I had to deal directly with the Servicer. In this case Aurora! UGG!

Comment by Ben Benita on June 30, 2010 at 9:56am

I have been on vacation at the beach...good place to unwind with my family and 3 little ones.....

Also, I tease b/c I care (and want you to stay on the island)

:-)

My e-mail is [email protected]

I am headed out to speak at a REIA meeting (can you guess the topic), shoot me a quick e-mail with the phone number I gave you last and I will hook you up.

VA Buyers and B of A -- cna also be challenging, we had a contract at $150k, VA appraisal FROM THE BUYER came in around $128,000 and B of A would not budge (we lost that BUyer and found another)

Also, on yours, what is the purchsae price on this?
Is the $8500 in closing costs, 1%, 3%, 6% of the purchase price. On maybe only 5 occaisions have we been able to get more than 3% closing cost credit approved and that was with smaller banks....there are of course other ways to get items paid, contact me off here to discuss, don't want to take up too much board time

Comment by Debbie Franklyn on June 30, 2010 at 9:34am

So nice to hear from you!
The $8500 is closing costs the buyer who is a VA buyer needs the seller to pay.
I did speak to different people at the office of the President (b of a). Shall I call fannie again? I will call the lender and see what we can do re: sales price.Will we need a new bpo? How do I contact you directly?

I have another file not as tough, but nego does not respond to the counter offer. Just escalated again!

Thanks for caring.

Comment by Ben Benita on June 30, 2010 at 9:25am

Gunna - particularly with B of A, you are facing an uphill battle and will likely need to start back from square one unless you have your file being watched by the higher ups......
For clients here in VIrginia, we started asking Buyers to get home inspections and appraisals PRIOR to our sending in the short sale package (we "gently" remind them we are working on THEIR behalf as well).
We send these items in with our short sale packages so it CLEARLY spells out any issues with the property (remember when negotiating short sales, make it as easy as possible for your negotiator to get a "YES" to your offer) ....also a good way to find out if the Buyer is serious.

If Buyer's complain about paying before short sale approval, we tell them to drop their offer accordingly, we have also offered to reimburse them at closing on occaision.....

Comment by Ben Benita on June 30, 2010 at 9:20am

Debbie -- you have some choices, quit and give up (I know you won't do that or you will be voted off the island), or, you can keep fighting.
Which number did I give you to call (we have LOTS of them)?
Who did you speak with?
Did you try calling back to the same number and speaking with someone else (dumb tactic, but, it works, whomever you called, particularly if the number was posted here, is likely getting BLASTED with requests and just blew you off to get you off the phone)?

The $8500 in closing costs, what percentage is that of the purchase price?
You can get 3% approved 99 times out of 100 if you negotiate properly.

Paying HOA -- again, there are several ways to get these paid:
By Seller - if he does not, house goes to foreclosure
By Buyer - if he does not, they just wasted ______ months on this short sale
By agents - no sale no commission
By increasing Buyer purchase price - on $5800, that MIGHT increase the monthly payment by $5/month
By negotiating like CRAZY with B of A and properly escalating - MONSTER pain in the ______ as we all know.

Don't quit on us, pretend this is your mother's house and she is about to get kicked to the curb, get creative, contact me off here, we will make it happen....

Comment by Gunna Voigt on June 30, 2010 at 6:40am

I have a new challenge. My sale waqs approved, but then the buyer and his agent went to have a home inspection. He knows he is buying it "as is", but since the contract date in September, and move-out in December, the house has been vacant for more than six months. Now there are some serious issues, the flashing around the chimneu is leaking (4 y. old roof) and is leaking through the basement and has caused some flooding there, plus walls and LR ceiling got damaged, furnace died, and water heater leakilng, mold, etc. Also, front steps have partially rotted, etc. etc.. I am now requesting BofA to make allowance for the necessary repairs so the buyer can go for a 203K loan without losing money. Has anybody had similar challenges?

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