Replies to This Discussion

Permalink Reply by Jeff Payne on July 31, 2010 at 5:00am

Thanks Judy, no cash from seller, no prom note. that is what took so long, they wanted them to bring $50,000 and we had to fight it out!

Judy Chapman said:

Great going, Jeff. Did the owner have to bring cash to closing or sign a promissory note?

Permalink Reply by Jeanne Dufort on July 31, 2010 at 5:06am

In my just approved case, both 1st and 2nd liens were resolved without seller promissary notes. Mabe the sign of a long overdue trend.

Permalink Reply by Chad Stewart on October 8, 2010 at 4:40am

I have closed one with them, only took about 90 days & received a full release, but my latest vacant land short sale has been in the works since March with very little response. See my post today & let me know what you think.

Permalink Reply by Anna "Banana" Kruchten on October 8, 2010 at 5:53am

Jeff I've got one in the works right now where it's nuts not for them to take 242 Net to ST with payoff of 255K. Buyers are ready to walk without an answer in next few days. Attorney is ready to file BK for sellers. The gal has no number to call - do you have a person I can call to perhaps expedite this file.

Thanks - Anna 602-380-4886

Permalink Reply by blb on October 26, 2010 at 6:20pm

Jeff,

I wonder if ST is more interested in closing short sales of Condo's because of the high HOA fees. Why should they close on land when the cost of holding it is so low. I am buying a SS on a 5,000 sqft house I wonder how motivated they will be approve it for 8,000 a year in taxes and low HOA fees. Does anyone see any pattern to what type of properties they approve and which ones they really don't want to close.