I've got two files with REDC from Bank of America through their "COOP" program. For some reason I cant get anyone in their office, particularly my asset managers to respond to my calls or emails. I have one file that supposedly is approved per the la
Read more…I attended a brown bag lunch at the local association last week. The speakers were the closing office attorneys doing the majority short sales in our area. They flyer saying to come out to this meeting stated they had over 400 short sales "pending"
Read more…Does anyone have an escalation contact for Onewest Bank?
My negotiator does not email back and the file was submitted for investor approval 30 days ago!
No one has updates as the negotitator did not update the notes!
This has been long draggged out p
Read more…When I took the listing ( short sale ) I charged the seller 7% and they agreed to it ( 3.5 for buyers agent and 3.5 for the listing agent ) but when we got the approval from the lender, they cut it to 5% - I discussed it with the sellers and they are
Read more…Dear colleagues,
Would banks still dig into an individual LLC member's finaces in order to determine a short sale approval? And more importantly, can they pursue individuals for the deficiency after the sale is complete?
What are your experiences in
Read more…I have a small commercial deal that I am trying to do a short sale with BofA.
I cannot find ANYONE or ANYTHING as far as docs., fax numbers, emails, you name it. The customer care has no clue and I've even gone to corporate who doesn't know where
Read more…I have a Bank of America COOP short sale with a house valued by the latest BPO at 140,000. However, I have an offer I am submitting in equator at 170,000 (the BPO value when I initiated the COOP). If the appraisal comes in low (for example at 150,000
Read more…I am working on a hafa short sale where there is only a 1st through Wells Fargo. There is also a lien through the city for sidewalk improvements. The city is owed approximately $6800. The city will not negotiate on what they are owed. Anyone know
Read more…I thought I'd initiate a session to vent about the handling of judgment liens in a short sale process. There really is no good way to handle these liens. You need to wait until you know the property is going to close, otherwise why pay them. But, w
Read more…I have been working on a short sale since September 22,2011. What an ordeal. it seems that their customer calls are outsourced to India. The worst is that most agents do not comprehend the mortgage language. At the end of the call all seems that it's
Read more…Hi all,
I'm new to the site. I'm a California attorney and real estate broker specializing in short sales. For a bit over 4 years we have been dealing with short sales, modifications, litigation and all manner of foreclosure prevention. I have b
Read more…Howdy Folks -
I have a file I am trying to escalate - PHH Mortgage / Fannie has approved a certain short sale. However, glaringly missing from the approval letter is any release of future pursuit of deficiency.
PHH Mortgage is saying they have wr
Hi everyone!
Wondering if someone can help. I have a file that was approved and juuuuust about ready to close when the title company decided it might be a good time to pull title work (which they say they always do when I provide them the listing p
Read more…My seller is completing paperwork from BECU and she is the only one on the mortgage/title of the place we have just sold. She married while living at this place and her husband has lived with her until now and they must move. The paperwork is aski
Read more…I am on this Short Sale Lawyer's email list. He has exposed some AMAZING things. I got this in my email today. It's disgusting.
http://www.californiashortsalelawyer.com/2012/01/freddiebet/
"Imagine if you had access to an investment vehicle allowi
Read more…I live in the very small town of Harrodsburg Ky. There is a beautiful property for sale 4368 Lexington Rd, Harrodsburg, Ky. The home is a short sale by Ocwen. I hear that Ocwen is unresponsive and thus the realtors hands are tied. Any advice on
Read more…http://www.car.org/legal/foreclosure-short-sale-folder/short-sale-negotiators/
Below is the part of the article, use link above to read full article....
Make sure a SSN is properly licensed. A SSN must be a licensed real estate broker or a licensed
Read more…Working on a Flagstar loan and was told that per FHA guidelines the seller has to apply for modification before they will even look at a short sale. Stated that the seller needs to make payments for 3 months and then if he qualifies for the modificat
Read more…After 4 to 5 months of wating to sale my home faxing paperwork back and forward,The lender changing from Litton to Ocwen constatly asking the realtor about the moving expense money. I am now told three days before closing that I will not be getting t
Read more…The first is approved. The second is with BofA. The home is in a trust. The husband died. The loan is in his name only the house is in the trust in which the wife is the trustee. BofA is saying since there is no will that the loan and house has t
Read more…
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