Looking for help with financing for a BofA short sale where the Condo Association has a 29% delinquency rate and FHA max is 15%. Property is located in Maryland.
I thought at one time BofA said they would do these types of deals to prevent foreclosu
Read more…On Friday, we had a closing scheduled and the final HUD was rejected by Chase who advised Fannie Mae will not cover pre paid items that are included in the buyer's closing costs...
The short sale was approved with $5100 in seller paid closing costs a
Read more…LCS has the second and will not agree to what the first (BofA offered $3000). They want $12,000. Does anyone have any advice? The seller will go into foreclosure if we don't get them to agree.
Read more…I'm looking to see if anyone closed a recent short sale where investor on first was Fannie and the payout to second was MORE than $6000 - OBVIOUSLY non-HAFA short sale.
Either post back or PM me.
Thanks guys.
Read more…So... back in March, I read about Major Changes to the HAFA SS process. Specifically, the occupancy requirements were to be removed from the qualification process.
However, I have yet to encounter a lender, bank, negotiator, processor or general Yah
Read more…Has anyone hehard if the tax relief act might be extended? Currently it is scheduled to end at the end of this year. Without this pur clients doing short sales will pay income tax on the amount that is dismissed. Any news from RPAC on this? Thank yo
Read more…I am currenty negotiating a short sale with Central Mortgage. Central Mortgage has counter the buyer's offer based on what I believe to be a bad BPO. The negotiator Tina Moore; whom is very nice states that she can not submit the buyer's raised off
Read more…Good morning Superstars.Whether you like short sales, want to do short sales or want to avoid short sales, short sales are here to stay. Short sales are a major part of the market and in my opinion will become even more so. Lenders WANT to do short
Seller qualified for hafa short sale. 1st under BoA, 2nd heloc bought by real time solution llc, 3rd judgement lien. House was listed at $279k with no offer for over 8 months. Last listed price was $209k in August 2011 My offer came in at $200k with
Read more…I just wanted to say thanks for those that created and have kept this site running. A big thank you also to those whom are experienced in this complex and ever changing process that share their wisdom and knowledge. It has been a huge help as a refug
Read more…I received a letter from Ken Tramp the CEO of Titanium Solutions informing HRC's that they will no longer be doing short sale processing and that we no longer have to give them a 25% referral fee on any listings we have pending with them.
He made i
Read more…Working a short sale, fannie mae no pmi, Flagstar. Fair Market Value (BPO) came back way over actual fair market value and bank denied short sale due to "unacceptable purchase offer." Any hints as to how to appeal a denial based on FMV with Flagstar?
Read more…Hi Everyone,
I have a quick question about a Bank of America Co-op shortsale. Sellers do not live in the property and it's been an income property for years. Have any of you had a seller qualify for "relocation" expenses from a co-op sale when it
Read more…Hey guys, I am posting this for a friend of mine who doesn't want his name used because you never know who is reading these sites. My friend and his wife made an offer on a short sale house in CT and now they can't get a response from the listing age
Read more…I have completed the package 2 months ago, Green Tree has the contract and all the sellers financials. I am unsure how to properly request they escalate this file. Any suggestions? Thanks!
Read more…Hey Superstars....I'm trying to figure out the best way to handle this new wrench that Midland is throwing in this short sale. Appraisal was completed on the property (I'm awaiting that report now). According to the appraisal, the AC doesn't work,
Read more…We have 9 lot's of undeveloped land that we are trying to get PNC to take back w/o success. We have had many offers sent in to them ranging from $40,000.00 per lot to the latest of $60,000.00 per lot plus we just added a $100,000.00 contribution to i
Read more…Has anyone worked with HSBC Beneficial on a HAFA short sale? Were they very responsive & timely?
Read more…We have been working with 2 agents from the same office in the purchase of a SS. Agent 1 appeared to be the "point person" with Agent 2 assisting along the way (We assumed 1 didn't have as much SS experience as 2). Anyway, we received noticed from
Read more…I have been offered two $30,000 listings with $100,000 each in financing. Owner has a 3 $20,000 houses free and clear. What are the chances that lender will demand a note secured by the free and clear properties in this situation?
Read more…
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