So I have another file sent over to REDC from BAC to do a "Cooperative Short Sale". This one was included in a chapter 13 BK a couple years ago. My negotiator called me yesterday to tell me the net requirement they needed and also that since I didnt
Read more…In 2005 my husband and I bought a home, it appraised at 89.000 and we bought it for 80.000. It now appraises for 45.000
In 2010 I lost my job which left us less 55,600 a year. Since then my employment status remains the same. Zero. My husband work
Hello Short Sale Superstars,
(Guys, I am new to this site, so please excuse me if I am doing something wrong, BUT I need your help!)
We are doing a Short Sale where two loans are both with US Bank. The first one is for about $120K and the second no
Read more…Hi there! We got verbal approval from Chase on Jan 28th. They want it closed by March 1st and they said written approval will come in the next few days. We went ahead with the inspection, our appraisal and we have all of our loan documents ready to g
Read more…In your experience, which lenders have you seen allow attorney fees on the HUD? I'd love everyone to contribute if you know for sure.
So far these are the lenders I've seen allot payments to attorneys off the HUD
No special order:
1) Indy Mac
2) C
Read more…I have/had a short sale open with Nationstar and the negotiator has stated that the investor (when I asked who the investor was he said it's investor code 399, which I'm assuming means the pooling and servicing agreement) does not accept short sales.
Read more…Has anyone had this happen?
The seller is being asked to pay them over $2,000 per month while we try to short sale the home and if we are not successful they will agree to a deed in lieu.
Below is part of the phone conversation between the seller and
Read more…Mortgage companies are operating in a broken system...they do not communicate to other departments. I have an approved short sale about to close, and the Mortgage company (CITI) ordered the house to be locked and winterized and the buyers cannot get
Read more…I've called Sabdell and spoke with thier short sale department which seems to also be thier collection department? In any case, I've searched sites and called the bank and no one can send a short sale package. Has any one dealt with this company/Ba
Read more…Is this still possible with the Arm's Length Disclosure?
Read more…DOES ANYONE HAVE A SAMPLE 2ND MORTGAGE LETTER THAT I CAN USE TO SEND TO A SMALL BANK SO THEY CAN COPY THEIR LETTER AFTER THAT. I HAVE NOT CLOSED ANY HAFA SHORT SALES WITH 2ND'S THAT I CAN USE AS A EXAMPLE. ANY HELP WOULD BE APPRECIATED
Todd SChr
Read more…Fannie Mae mortgage servicers can complete short sales and deeds in lieu of foreclosure without getting separate approval from the now bankrupt mortgage insurer The PMI Group, a change that's expected to further reduce barriers to short sales. A mor
Read more…What's the difference between a "HAFA approved" and a conventional short sale?
Read more…I am having a challenging time getting anywhere with Flagstar. Anyone have any advice, contacts or escalation tactics to help me?
Thanks.
Read more…Hello,
I am a first-time homebuyer in the process of some back & forth after putting an offer on a short sale. The latest thing to come up is that we have been sent what appears to be a standard addendum which needs to be signed in front of a notary
Read more…My friend is renting a home and recently a Notice of Default letter was delivered for the owner. This is extremely stressful on the family because at lease signing they paid 6 months in advance. They would like to be proactive and contact the servic
Read more…So slightly off short sale topic but important to all of us. I had a confrontation yesterday with a mortgage broker who I have worked with in the past. He says "I have a lead for you" I think to myself great. He says "they have great credit scores a
Read more…Looking for tips on getting higher commissions paid. On lower priced listings ($65k & below). The lenders will not pay more then 6% on the listing which equates to under $1k in many instances. Most of these listing are taking 6 months or more to
Read more…Hello Everyone,
I finally got a short sale closed with BOA that was a Nightmare! We tried to get HAFA approval and the file was sent to AMS for 7 months and never received an answer. Anyways I have just initiated a new short sale and I was told to ha
Read more…So I'm wondering if anyone has had experience with one of these "Coop" short sales where the second is demanding the $2500 sellers incentive and B of A has allowed them to keep it? I have a file where the second(Old Republic) is demanding that they k
Read more…
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