My client is hoping to short sell her home. In conducting the research I found that her mortgage was assigned by her lender - Amnet Mortgage, to Fannie Mae. I've never initiated a short sale directly with Fannie Mae. Can anyone advise?
Read more…I have been thinking about investing in short sales, with idea of buy with cash and resell for a profit.
I have been reading alot out there that this kind of investing is dead. Can anyone shed some light on this.
Is the back to back closing a thing o
Read more…I have previously seen legislation stating that a Realtor could not collect a fee for negotiating a short sale, nor could he collect extra commission for handling the short sale.
Friday, I attended a seminar where a local Real Estate Attorney said t
Read more…Anyone have an escalation contact for a Seterus short sale? It would be for a first time extension.
Thanks
Read more…specifically in regards to what % of buyer's closing costs they will allow to be paid? I always here 3% MAX and I just wanted to see this in writing. Thanks!
Read more…Really unsure of the direction here and hopefully someone can fill in the blanks.
1. 1st Indymac (now OneWest) and balance is under selling price
2. 2nd PNC (is HELOC) will most likely clear 8-10k at sale on a 50k balance.
Talked to Indymac today
Read more…Just got off phone with an upper level exec and was told...wait for it...that PNC has a grand total of THREE short sale processors. COMPANY WIDE. One of which has only been on the job for a month. Henceforth, docs requested by PNC not received wit
Read more…My clients have been offered a "mediation" from Citi bank. Has anyone ever heard of this? It sounds like they are being taken on the path of a loan modification that just won't work for them, but they want to continue forward in talking with Citi -
Read more…GMAC says the investor on this deal does not participate in HAFA. They also only pay 5%, 4% if both agents from same brokerage 3% if I have both sides. Has anyone else run into this?
Read more…Any thoughts/suggestions on how to get an Equity Line lien released after the property has closed if the former homeowner insists it was discharged with BK and title company did not pick up the lien with title search and closed on the property? Than
Read more…My good friend's boyfriend has gone through some very tough times financially after his divorce and was also facing a loss in business as a general contractor since the economy took a hit. He applied for a modification with B of A and was denied, how
Read more…How do you handle the EMD going into a short sale? Do you refund the EMD if the buyer walks or do you have a form signed by the buyer and seller upon inception of the contract as to the disposition of the EMD if the buyer walks?
Read more…I need help! Wells first and second. Have had second approved for months. First is FHA. Have had same buyer and offer submitted since January. ATP was issued on 3/13/12. The buyer is an investor buying through a Trust. The negotiator requested
Read more…Hi everyone, I am working a short sale with Wells Fargo and have postponed the foreclosure sale date once already last month. I have an offer on this property, it is owner occupied, I have submitted all requested documentation and now Wells Fargo is
Read more…I have a short sale that was submitted to Suntrust in December 2011. Unfortunately, Suntrust is probably the slowest servicer I've been working with when it comes to processing short sales. Back in March I saw a foreclosure sale date on the county
Read more…Offer is in & TSD is 6/21/12. Offer is declined, but never communicated. BPO is $70k over,which was done 1 month before offer submitted, but never communicated. What the heck is going on. Ocwen off shore negotiators are rude, interruptive,& firm on t
Read more…I was told yesterday by my negotiator that Nationstar does not waive deficiency and that I need to address with them after the short sale closes. Does anyone have an approval from them with waiver of Deficiency language in the Approval documents?
th
Read more…For my short sale, I'm approved for the $3,000 relocation assistance from my primary lender. I'm considering waiving the relo $$$ to keep secondary lender from taking it. My question is: can the secondary lender consider/take this money as addition
Read more…Seller here in the middle of a short sale.
We have the approval to proceed but we cannot get the deficiency waived and we are getting the runaround from every direction.
Our agent says close anyway "they won't come after you" uhhuh, well they do h
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