Anyone know of a "back door" contact at Metlife? A good One? One that actually will give you straight answers when it comes to confirming receipt of docs and will not put you on eternal hold or disconnect you?
I have been trying to confirm receip
Read more…Is this a bad idea? The house has been on the market for a long time and has two mortgages, both with BoA. I know what they owe, approximately. The house has now been reduced to $575,000 and is assessed at just over $700,000. They owe about $100,
Read more…How do I prepare the estimated HUD? Should I just show it as 1-line item or 2?
Read more…I have been a transaction coordinator for a small RE office, I was let go yesterday due to affordability. I have gotton 9 out of 11 deals closed with numerous banks in last 7 mo. I was a licensed realtor from 2005 to 2010. I was doing short sales bef
Read more…A message from Bryant Tutas to all members of Advanced Training Group on Short Sale Superstars!
So you may be wondering when the heck Wendy and I are going to release the next webinar. Don't feel alone...we too are wondering!!
We have scheduled 3 t
Had a fully approved short and the buyer terminated. Got a new contract within days and notified the negotiator and customer service team. Requested advice on how to handle. Customer service says not to start over and negotiator should create new tas
Read more…Show of hands of who has gotten non deliquent seller short sales approved!
What percentage of your short sales are non deliquent?
I have closed MANY
25% of mine are non deliquent
Read more…First let me disclose, I'm a 3rd party negotiator, but our business model never takes an up front fee. We are only paid if we can close the sale. I recently had a homeowner contact me that wants to work with me, that had another 3rd party negotiato
Read more…Recently, I've had a couple of friends that have had to short sale their homes. In fact, one friend lost his home in foreclosure before the short sale was approved. All of them were over 61 years old, mostly retired and/or semi-retired with limited
Read more…I'm wondering if anyone out there has the specific "hold" policies for each individual lender. For example, I understand that Ocwen has a 90 DAY HOLD policy for all investor approved short sales. I can deal with 30, but if the lender wants a 90 day h
Read more…If you are using a psuedo name or did not register with all of your information and you want to be noticed and want referrals, you might want to post all of your information here as Short Sale Superstars.
No sense in being a secret agent :)
I understa
I have a Bank of America short sale being handled by REDC for the first. The seller also has a home equity line of credit with Bank of America, and that 2nd needs to have a payoff requested so it can be included in the HUD-1 that gets submitted with
Read more…New revised bill here in FL states banks NOT liable for attorney or late fees. What's your thoughts and any potential problems you see that may arise from this?? Have a great day!
Read more…I tell clients and agents that one of the keys to getting short sales approved, or at least understanding the process, is knowing who has to yes. The lender(s), obviously, has to, but there's often a second entity -- VA, HUD, an MI company, and I ass
Read more…I have a deal where PNC is the junior lien holder with an unpaid balance of $150,000. The 1st is Ocwen and I have the approval from Ocwen with a Max of $6,000 to PNC. I just spoke with OCwen and they indicated that $6,000 is the max they will allow
Read more…Does your MLS have Fannie Mae Help Desk?
If Yes,
Have you used it?
How did it work?
What did you think of it?
If No,
Why not?
Do you think it would be beneficial?
Any thoughts or ideas or experience with Help Desk is greatly appreciated.
Read more…Just curious how you are all dealing with your buyers who want to make offers on multiple short sales. What do you think the legal implications are? How ethical do you think it is? How do you balance wasting everyone's time with your fiduciary duty t
Read more…I had an offer for a short sale. Bank wants more, and buyer didnt come back the offer to meet what the bank wants. Finally bank rejected the offer. I have been trying to get the buyer agent to sign the cancellation form. It has been 2 weeks. The buye
Read more…Here's the scenario: Homeowner stopped making payments on both first mortgage and HELOC. 18 months later a short sale is approved by both lenders. Lender #1 gets the bulk of the sale and nets $200k from a $350k note balance. Lender #2, the junior
Read more…We are in mid-stream with a short sale....the seller has listed the property, accepted an offer, and filed paperwork with Chase to complete the SS process....two months after accepting the offer and 5 weeks after the BPO, the Seller decides to apply
Read more…
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