Hafa short sale has been an ongoing process with Amo since November. The price of the offer is high enough to yield 98% of what is owed. Second lien at greentree has agreed to 6 k max allowed under hafa and has confirmed this in writing. April 11 we
Read more…Anyone know the simplest way to have a file removed from "Held" status in Equator for a BOA file? The last buyer walked and I have a new offer.
I've tried emailing thru Equator but the file is being handled by Dignified Transition Solutions - I recei
Read more…I have a question regarding an approval letter..
Received one from Fifth Third Bank (Freddie Mac investor), with no explicit verbiage waiving the deficiency balance. When asked if we could receive a new approval with this verbiage added, I was told
Read more…We have an approval letter from the 2nd. The 2nd would not accept anything less than $3K and the first is only allowing 6% (Fannie Mae 1st). Now that we have a new Buyer that can pay the difference and get the file moving, the 1st is saying that Fa
Read more…My sellers have been accepted into BofA Co-op sale. They had no tax escrow account and had always paid their taxes separately at the end of the year. As they are insolvent, they did not pay 2011 taxes. We are waiting for BAC to give us the list pric
Read more…We've been working a Bank of America short sale for nearly a year now. Offers continue to be rejected when we get down close to approval.
Currently, we have a cash offer and the seller has agreed to a $16,500 promissory note. Terms were agreed upon i
Read more…What do you all think about Ocwen's guideline of 8% guideline and 10% Max on Closing cost. This includes Commission, Realty Transfer Fee, Attorney fee and any seller's concession if the buyer needs. Furthermore, they ask for buyer's bank statement to
Read more…Anyone have experience with a Reverse mtg SS? I'm dealing with Freedom Financial. They take 60-90 days to respond once they have all docs. This is crazy ridiculous. I have a cash buyer paying what they want. Appraisal already completed. Buyer is walk
Read more…Just curious. I have a seller who has a chase loan that we're attempting to do a short sell on. Does anybody know if their decision to offer an incentive would be impacted is she filed a BK? She's really hurting financially and trying to get from un
Read more…Can you get HAFA with FHA? What is a Treasury HAFA?
Read more…Hi everyone, my name is Wayne from Jacksonville, Florida and I'm a newbie here… I am looking forward to exchanging sincere thoughts and ideas with you all… Have a great day ahead!
Read more…If you are buying a short sale and are contributing to 2nd lender, does the contribution amount have to be included in the GFE? My broker just completed and submitted my gfe and I realize it doesn't incllude contributions.
Read more…On April 4th Bank of America countered our offer on a short sale, they didn't change the purchase price just some of the closing numbers. We accepted this offer and then we were told that it was off to the investor for review. After waiting weeks f
Read more…We are in California and I have a listing that has 2 loans 1 with US Bank and 2nd with Bank of Stockton.
My client's job was termintated and he will be receiving a severance package. On is last check it shows that he was paid for sick leave and vacat
Read more…okay we are now 2 weeks from closing but the problems continue.
Seller is expecting to receive $3000 moving money even though they did not qualify for the HAFA program. They were emailed about this months ago by the negotiator (i was copied on it).
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Hi,
I just received a counter on the equator for 4% commission for dual representation:
Questions:
(a) Must I accept 4% if I am representing both Buyer and Seller.
(b) I was recently solicted by a company wishing to reprsent me for mandated comm
Read more…Hello I'm near the finish line to closing on a short sale, it's been rough but I'm almost there! One issue I'd like to discuss is this. In the beginning I was never aware of the terms that came with the sale not once was it disclosed to me that I wou
Read more…Hi Folks,
Working a 2nd with PNC, who verbally agreed to the 6K from bofA 1st several weeks ago. Now we can't get them to respond and issue the written approval. Located in Calif - no deficiency w approval. Does anyone have any thoughts or contacts
Read more…What is your take on this, I have noticed a particular agent in my area write the following in the MLS Remarks: "50/50 COMMISSION SPLIT WITH THOSE OFFICES THAT DO THE 50/50 SPLIT" is that really allowed?
Read more…We have several clients whom are being contacted by collection agencies trying to collect money although Chase provided the seller with a "Full Deficiency" in writing and the deal has already closed and been processed? When the client provides the cr
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