Any N. California real estate agents with US Bank short sale success?

I am not surprised by all of the negative commentary regarding US Bank.  I hear the same thing in multiple forums.

 

However, there must be some real estate agents out there having some success with US Bank and short sales.  I need to get out of my house and would prefer to avoid foreclosure.  If you are a real estate professional with verifiable short sale success with US Bank, I would love to speak with you.  Thanks.

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Hi Jose. I have had 2 dealings with US Bank. Both were FHA transactions and both closed without a hitch. I found US Bank to be very straightforward. If you have questions feel free to call or email me 407-873-2747  [email protected] I'm in Central Florida.
I just closed a US Bank short sale and it was the best short sale I have ever done.  We had approval for a short sale due to the sellers financial condition.  US Bank ordered the BPO within 2 weeks of hardship submission, they called and told me what the BPO came in at and what Freddie Mac the investor wanted to net which made my job SOOOO much easier.  I found the buyer, got it into escrow and closed it, easy peasy.  I wish they were all this way.  Now I am back to working on my Wells Fargo and BofA short sales.  I know others are having a hard time with US Bank but I found Mark Rempe and Kaci Coomes to be very responsive and easy to work with.

Hi Stephanie-

 

Really appreciate your reply.  Without getting into specifics about your seller, what was the nature of their financial hardship?  I am curious what sort of seller challenges US Bank would respond to given how subjective the hardship evaluation is.  Was this a short sale request through HAFA or did you just approach US Bank directly?  Are Mark and Kaci US Bank employees who you worked with to move the transaction forward, and if so, do you have email addresses for them?

 

Thanks again!

Stephanie Greenberg said:

I just closed a US Bank short sale and it was the best short sale I have ever done.  We had approval for a short sale due to the sellers financial condition.  US Bank ordered the BPO within 2 weeks of hardship submission, they called and told me what the BPO came in at and what Freddie Mac the investor wanted to net which made my job SOOOO much easier.  I found the buyer, got it into escrow and closed it, easy peasy.  I wish they were all this way.  Now I am back to working on my Wells Fargo and BofA short sales.  I know others are having a hard time with US Bank but I found Mark Rempe and Kaci Coomes to be very responsive and easy to work with.
How did your deficiency issue if any play out?

Stephanie Greenberg said:
I just closed a US Bank short sale and it was the best short sale I have ever done.  We had approval for a short sale due to the sellers financial condition.  US Bank ordered the BPO within 2 weeks of hardship submission, they called and told me what the BPO came in at and what Freddie Mac the investor wanted to net which made my job SOOOO much easier.  I found the buyer, got it into escrow and closed it, easy peasy.  I wish they were all this way.  Now I am back to working on my Wells Fargo and BofA short sales.  I know others are having a hard time with US Bank but I found Mark Rempe and Kaci Coomes to be very responsive and easy to work with.
Thanks for asking, Dawn.  We are just beginning on this journey so no developments yet.  We'll see how it goes but I am not optimistic that things will develop quickly.

Dawn Barrier SFR®,CSP®,HRC said:
How did your deficiency issue if any play out?

Stephanie Greenberg said:
I just closed a US Bank short sale and it was the best short sale I have ever done.  We had approval for a short sale due to the sellers financial condition.  US Bank ordered the BPO within 2 weeks of hardship submission, they called and told me what the BPO came in at and what Freddie Mac the investor wanted to net which made my job SOOOO much easier.  I found the buyer, got it into escrow and closed it, easy peasy.  I wish they were all this way.  Now I am back to working on my Wells Fargo and BofA short sales.  I know others are having a hard time with US Bank but I found Mark Rempe and Kaci Coomes to be very responsive and easy to work with.

Hi Jose,

 

I am in the SF Bay Area and yes I have had success with US Bank.

Some questions for you:

- do you have one loan on your property or two?

- Is one or are they both with US Bank? If not who's on 1st and who's on 2nd?

- have you submitted any loan modification documentation to them? (i.e. what do they already know about you?)

 

If you have just one loan with US Bank (or any other bank) then the process is straightforward because with the passing of SB 931 (California senate bill) last year (in effect since Dec 31 2010) there cannot be a deficiency judgement after a short sale.

 

If you have a US Bank 2nd, then things get tricky with their requirement to have the borrower sign a letter agreeing to the deficiency before they look at the short sale package.

 

Dominique

[email protected]

408-838-9855

I have a client that lives in Northern California. I am representing them in the short sale of their Washington state home. First mortgage is with US Bank Home Mortgage, 2nd is wth US Bank Financial. The 2nd lienholder is requiring the sellers sign a disclosure committing to repaying the entire loan balance in order to proceed with the short sale. They were quite rude to my clients and refused to provide me information until the sellers verbally agree to the repayment of the debt.

 

Does anyone have any suggestions on how to proceed with negotiating the 2nd loan short sale. So far, the first lienholder has been performing their responsibilities with no major issues.

 

Thanks,

Hilary Willis

Managing Broker

Coldwell Banker Danforth

Federal Way, WA



Dominique Van Ryckeghem said:

Hi Jose,

 

I am in the SF Bay Area and yes I have had success with US Bank.

Some questions for you:

- do you have one loan on your property or two?

- Is one or are they both with US Bank? If not who's on 1st and who's on 2nd?

- have you submitted any loan modification documentation to them? (i.e. what do they already know about you?)

 

If you have just one loan with US Bank (or any other bank) then the process is straightforward because with the passing of SB 931 (California senate bill) last year (in effect since Dec 31 2010) there cannot be a deficiency judgement after a short sale.

 

If you have a US Bank 2nd, then things get tricky with their requirement to have the borrower sign a letter agreeing to the deficiency before they look at the short sale package.

 

Dominique

[email protected]

408-838-9855

Jose,

I hope you have found success!  I see your post was back in January.

My husband and I just closed a short sale with US Bank as the 1st AND 2nd lienholder.  Once we learned what their "tune" was, we danced to it and got the short sale done.  The negotiator was great and contacted me directly, frequently when needed.

We are in Southern CA.

Dominique & Jose,

 

We just closed a short sale transaction with US Bank being the 1st and the 2nd lienholder.  However, now that the 2nd has closed, US Bank has contacted the previous homeowners (borrowers) and have indicated they want the entire balance on the 2nd - $72,000, and that the amount is going to collection.  My previous sellers have promised to keep me in the loop as to how that process turns out.  By the way, the 2nd loan was a stand-alone 2nd - obtained to purchase the house.  Given that the 2nd lienholder DOES have the right to go after the homeowners, regardless of whether or not it was purchase money, I'm hopeful that this turns out in the my cllients' favor!

Dominique Van Ryckeghem said:

Hi Jose,

 

I am in the SF Bay Area and yes I have had success with US Bank.

Some questions for you:

- do you have one loan on your property or two?

- Is one or are they both with US Bank? If not who's on 1st and who's on 2nd?

- have you submitted any loan modification documentation to them? (i.e. what do they already know about you?)

 

If you have just one loan with US Bank (or any other bank) then the process is straightforward because with the passing of SB 931 (California senate bill) last year (in effect since Dec 31 2010) there cannot be a deficiency judgement after a short sale.

 

If you have a US Bank 2nd, then things get tricky with their requirement to have the borrower sign a letter agreeing to the deficiency before they look at the short sale package.

 

Dominique

[email protected]

408-838-9855

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