Comment

Comment by Short Sale Superstars LLC on July 8, 2015 at 10:01am

@bernadine - Who is servicing the 2nd? I have closed numerous short sales with Ocwen recently and have multiple files with them currently. What is your question?

Please let me know if you need assistance or have any questions.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Bernadine Hunter on July 8, 2015 at 7:17am

Has anyone worked with Ocwen recently where the buyer had a sizable second mortgage? Any assistance would be appreciated

Comment by Yvonne Westerman on September 26, 2014 at 3:17am

Hello All,

Is anyone still adding to this page.  I have lots of approval letters that I could share.  If anyone has a request for one ask and I will see if I have it.  Please give me time to get it done when asked. 

I am looking for a US Bank approval.  Does anyone have one they can share?

Thank you in advance

Comment by Lillie Handy Dominguez on September 14, 2011 at 10:59am

Hi All,

 

Here's a Wells Fargo Mortgage Short Sale Approval Letter as of 9/13/2011 with a Waiver of Deficiency & Reporting to Credit Bureau.  1.7% of Buyer Closing Costs paid.

 

Thank you for all of everyone's assistance on CC.

 

Wells Fargo Short Sale Approval with Waiver of Deficiency.pdf

 

 

Comment by Mary M. Bremer on September 1, 2011 at 3:01am

Jeff - That is great! I was still getting on my firsts.  Not on my HELOCS.

 

My attorneys are going to breathe a little easier.  Thanks for letting me know.

 

 

Comment by Jeff Payne on September 1, 2011 at 2:43am

Mary M Bremer, not any more.  The last 4 BofA letters that I recieved did not have that verbage in there so we didn't have to worry about asking to have it removed.

Comment by Mary M. Bremer on August 31, 2011 at 4:44pm

BOA's standard letter ALWAYS states they have a right to pursue a deficiency.

You can ask for that to be removed.

Comment by Linda Gregory on August 7, 2011 at 2:32am

Thanks for the letters. They are very insightful and useful as a tool to use with Short sale Sellers to show them the what the approval letter looks like. The Bank of America letters were also especially significant showing the 2 possible oucomes regarding  deficiency action.

Comment by Lillie Handy Dominguez on June 8, 2011 at 6:41am

 

GMAC Short Sale Approval 8 June 2011

 

GMAC approval on Equator with 6% commission and no Seller Contribution.

Loan Bal:                        $285,000

Offer:                              $170,000

Commission:                   6%   (3.5/2.5)

Seller Contribution:          $0

 

This was the 2nd offer I had approved on this property.  First buyer walked 3 days to close.  1st approval was for $192,000 in September.

 

Final Scenario:  

2nd offer:   $170,00

2/10/2011

Counter:    $200,000

Buyer:       rejected

• Requested a new BPO or appraisal. 
• GMAC still wanted $200K due to new BPO
• Buyer rejected again and verbally terminated, however, still interested.
• CMA's sent to GMAC bi-weekly until they accepted the $170,000.
• Buyer came back - hadn't found another property.
• GMAC approved via email prior to postponing the auction.  (no approval letter yet)
• Auction postponement requested by me.
• Auction Postpone for 30 days.
• Seller Contribution Requirement:  Fannie Mae now wanted $2,500 from borrower
• Borrower agreed to $1,500.
• I countered to GMAC negotiator that they had approved via email without a contribution, so to keep their word
• Requested an Escalation
• GMAC:   provided approval letter within 24 hours of escalation request.

Copy of approval attached for your reference.

 

Lillie Dominguez

Comment by Lillie Handy Dominguez on June 8, 2011 at 6:35am

Bryant, thanks for your letters.  These are great.

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