Currently submitted a short sale package to ING (1st) & the 2nd is with DTA Solutions. Before ING continues with the SS process, they requests to receive DTAs acceptable amount first but DTA on the other hand requests to have INGs approval before sh
Read more…Has anyone had this happen to them? We got a HAFA pre-approved list price on the listing (freddie mac) and it was high just like all of them seem to be. I asked for a price reduction and submitted comps to support the reduction. The comps showed the
Read more…I'm trying to negotiate a mortgage originally taken out with Global Equity Lending. Their mailing address at the time was 3955 Johns Creek Court, Suwanee, GA 30024. Although I know the company is no longer in business I can't seem to find the service
Read more…Here's the situation. Owner has a 2nd mortgage with First Magnus. The problem is First Magnus filed bankruptcy and ceased to exist. There are no contact numbers on file anywhere that work anymore. Yet, the lien is still on the property.
Suggestio
Read more…A possible short sale client said that her mortgage lender (Bank of America) said they are not eligible for a short sale because they refinanced on their home after 1/09/2009 and their their only options are a deed-in-lieu or foreclosure.
Is this
Read more…We are 83 years old and with failing health, we suddenly had to move into assisted living in Feb 2012. Our mortgage principal exceeds the current market value, and we can not pay both the mortgage AND the assisted living rent. We were current on our
Read more…I suspected the sellers agent was doing something wrong from the very beginning. When buyer made an offer it has not been presented to a seller for a couple of days, as a matter of fact the seller did not even know there was an offer. Finally the con
Read more…I have the ATP and contract on my seller's home and tomorrow will be sending in to the stage 2 negotiator the preliminary HUD with my seller's signed ATP.
We had a contract on the house before our ATP was issued.
What happens to my timeframe or appro
Read more…I have a client who has a VA loan on a property that we will be short saleing. Will he be able to use the VA loan again down the road? I was thinking that we could get forgiveness on the amount owed after the sale, but would he still be able to use
Read more…I have a client who has a Federal tax lien from 09 on his home. The lien is for $15,000, has a first of $205,000 and equity line of $43,000 on a home who's market value is $135,000 in Phoenix AZ. Has any one seen the IRS work with a seller to subo
Read more…I have an approval letter from Wells Fargo, due to close near the end of March. The inspection revealed termites yesterday and some baseboard damage from them. The seller is due to receive $3,000 relocation allowance. Is it possible for the owner to
Read more…I got an approval from Chase however it does not address the deficiency with the borrower. The negotiator told me that on the FHA loans that I would need to talk to HUD or FHA to get a document releasing the borrower. I spoke to both HUD and FHA and
Read more…Late last year a short sale property in Plantation, FL with a FNMA 1st and SunTrust HELOC received a $295k offer. FNMA servicer counters at $305k based on a bad BPO. SunTrust never acted; Buyer walks.
Since Christmas three direct comps have closed
Read more…My colleague is representing a seller with a VA loan through Chase, and her contact -- presumably a negotiator -- said they would accept a net payoff that was $3-4k below the VA required 88.13 percent. PLUS, they would give the seller $10,000 because
Read more…I have a friend whose daughter is under contract to purchase a short sale in Florida. So, he called me for advice (I am in NC).
To cut a long story short... the bank said that they have the right to negotiate directly with the Buyer and they are byp
Read more…Hello everyone! I am representing the buyer in a short sale transaction in SoCal. After five months of waiting we finally have both approvals, but I just found out that there are numerous HOA violatios at the property. Upon further investigation I fo
Read more…I am working a short shale that was a Bank of America loan. In the middle of the process the loan was sold to M&T Bank and we had to start over with the new owner of the loan, a month wasted. Now we are being handled by Bayview Loan Servicing, and i
Read more…Hello: I understood that only one offer should be signed by a short sale seller at a time which is then forwarded to the short lender for review all other offers are put in back up status until the first buyer offer is cancelled. However in Californi
Read more…Just curious if anyone's had a NationStar short sale and how the deficiency was handled in the approval letter. Your comments appreciated!
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