My Sellers were sent a 1099 (Forgiveness of Debt) in March 2010 on a second loan for the full amount of the 2nd loan.
They filed with their tax returns.
We are now short selling the property, and the second lienholder is telling me Seller have to
Read more…Take a look at this addendum and see if you get the same reaction I did reading it. I cant see signing it the way that it is. The negotiator told me that its up to the seller to decide what is highest and best, so I told him your addendum sure doesnt
Read more…Amazing, HUDs getting rejected because the banks short sale closer can not read a HUD.
Read more…I started doing short sales in 2007. The majority of agents in the area didn't want to touch those very time consuming deals. After 5 years some agents realize that short sale are here to stay and decided to catch up and now are listing short sales.
Read more…My client wants to modify if at all possible. Loan is with Wells Fargo, and I am pretty sure it is Freddie Mac (I did a BPO last month and it indicated it was a Freddie). In their divorce the house was awarded to the husband. Wells Fargo is telling h
Read more…Aloha
I have a listing of a home that was financed by Onewest/Indymac. I was hired by the estate of the deceased homeowner. The owner passed in April, 2011. Owner became delinquent about November, 2011. Onewest is seeking pay off including penalties
Read more…Personally I've seen PR stunts like this since 2007. There are usually loop holes... Most of what I see in the bulletin will make sure servicers make sure they are communicating with you. However I see nothing that says things will change. Read the b
Read more…Does anyone know contact info for the senior officers of this company? I can't seem to get past the customer service reps. They tell me to keep calling back to get a supervisor and that never happens. Had one reach out to me but can't get his direct
Read more…I am attempting to SHORT SALE commercial vacant land condo lots approved by governing authorities.
These lots are part of the borrowers total loan. The lender received this portfolio by taking over another
bank thru FDIC bank take over.
Do I do anyth
Read more…This is a great sight, so much wonderful information.
I am currently residing in Texas trying to SS our house in NV. We moved 6 weeks ago. The house is a Fannie Mae and the lender has flat out refused to offer a waiver. Colonial Savings, in Fort Wort
Just received an approval from Wells Fargo it seems they now have new verbiage which states, "With the exception of a Home Affordable Alternative (HAFA) closing, nothing in this Demand Statement or in the release of the mortgage shall waive the right
Read more…Green Tree holds the 1st lien and had approved the short sale. BofA holds the 2nd and took so long to approve, the buyer walked. I submitted a new offer within a couple of days, and now it's stuck in the BofA ozone. Trustee's Sale is scheduled for Ma
Read more…I'm wondering if anyone has had increased crime get approved as a reason for doing a short sale? I've had economic circumstances (job loss, pay cuts), divorce, death, illness, and relocation. But I've now got a circumstance where the homeowners purch
Read more…Hello,
My sellers forgot to tell me at listing there are 4 separate CA FTB liens against the house due to a business the husband had where apparently he didn't pay his sales tax to the state.
They owe about $300K to BofA, some small liens for unpaid
Read more…Hi, I'm new to this forum and to the short sale scene so pardon me if my questions are dumb.
We found a house we really like here in Florida (Gulf Coast) and are trying to get the best deal for it, We have a set budget of $175k-180k.
Bank (Chase/Mo
Read more…I have a new short sale client with Seterus....can anyone give me some info on this company? Thanks very much!
Read more…One of the HAFA changes is that the junior lien holders will be able to get up to $8,500. I thought that this change, along with the others, went into effect on June 1, 2012 but a review of the Directive says that this change goes into effect immedia
Read more…So...this is an unofficial report but my contacts at Chase are saying there is "buzz" that they may move some or all files to Equator by the end of summer...anyone else heard this yet?
Read more…Help please.
Submitted a WF short sale through Equator. Uploaded all documents requested. Negotiator emailed that file is being removed because there is a surplus. Monthly financial statement asks for monthly NET info which was submitted via Equator
Read more…
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