I have an offer on a short sale that the seller approved and we are still waiting to get something in writing from the bank...it has been 5 months.....Another short sale just came on the market that looks very appealing to us. Can we make an offer o
Read more…Ok the lender for a person on the deed of a deed in lieu but not on the mortgage was told by Quicken Loans that they are not qualified for a loan. That does not seem right. Anyone can be on the title/deed but why punish a person not on the mortgage
Read more…Does an agent in a florida real estate transaction have a DUTY TO DISCLOSE his affiliations or relationship with a 3rd party company seeking to to be compensated in a shortsale transaction ? or any real estate transaction?
ex: realtor is trying to g
Read more…Anyone else have this happen? I lost five files over the weekend without any notice or explanation. Even my negotiators cannot tell me why the file "disappeared." Due to what BOA calls a "glitch" in the system, I had 5 files inexplicably removed from
Read more…My client took out 2 loans in 2005 for a total of $329,000 sales price. (Chase is the first, HSBC the second)
In 2010 they applied for and were granted a HAMP loan modification on the first loan. It gives them 2% interest on $149,000 for 5 years and
Read more…let me begin by saying "I" too am a licensed realtor but i don't specialize in shortsales or traditional home sales. i respect the profession and ppl who behave professionally. which is why it BURNS ME that this idiot did this!!
i am the 'buyer' on |
Just wanted to pass this on as I had not negotiated with Carrington Mortgage before. My negotiator was fantastic. He kept me informed, let me know if there was anything he needed, responded to me within 24 hours of my contacting him..very smooth.
T
Read more…I have a homeowner who is strapped. Sale is approved, MI wants $5000 and homeowner doesn't have it. She offered $2000 and they said "no" - she has to BORROW the $2000. The servicer is claiming she doesn't really have a hardship and looking at her
Read more…I am an agent working on the short sale of my own property. We received the approval letter from Wells Fargo today. It states, "nothing in this Demand Statement or in the release of the mortgage shall waive the right to seek a deficiency under the
Read more…This may be a regional question, A recent Miami Herald article says RE are slowly creeping back to "normal", They said a year ago distressed home listing account for 70% of all homes listed, now it is 50%, so it's SLOWLY "creeping back to normal" a
Read more…Does anyone out there have an e-mail address or direct line/extension for someone in a higher position than the "negotiator" I'm currently dealing with? Here's a brief description of what's going on:
Hello there, this is Ritch and newbie to this forum. I’m living in LA and I’m in pre-foreclosure stage. Are there any good options for me other than entering in a short sale in order to pay off outstanding debts? Or is it the best alternative as ye
Read more…I need some suggestions here on a post that I started last week regarding a last minute judgment. That post evolved into a discussion regarding RESPA, so I decided to repost and keep this conversation on topic:
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We have short sale (HAFA, non-
Read more…"Why do SS approval letters NOT have a paragraph where the borrower forever releases the bank from any and all claims arising from issues of origination, securitization, servicing, default servicing, etc??" Thoughts??
Read more…With all the restrictions on what banks and lenders will and won't do, what Fannie and Freddie will allow and whom HAFA says can or can not contribute, I am utterly confused as to when RESPA rules/law are violated.
Example: We just found out about an
Read more…April 25, 2012
Fannie Mae Sets New Short Sale Timelines
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it is directing servicers to e
Read more…I just listened to yesterday’s BOA agent training webinar on their new process. I noticed a few times that the presenter emphasized the term “Debit Settlement”. The presenter said a few times that we are performing Debit Settlement. I found this to b
Read more…We are buyer of SS - currently under review by 2nd bank. Our initial Purchase Agreement (with Seller) stated an arbitrary closing date of 02/28. As that date neared I asked the agent whether we should be extending with an addendum - my concern was
Read more…Does anyone know what NationStar's policy is regarding agents as buyer receiving commission? Does it depend on the investor? Is having no relationship with the seller, listing agent, and lender constitute enough "arms length" to satisfy them?
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