I have a 1st with GMAC, 2nd with BofA and 3rd with MCT Group a collection company for USE Credit union. The 1st and 2nd have agreed to the short sale but will not allow any $ to go to the 3rd. The 3rd wants $12,000. Has anyone experienced this before
Read more…Has any had any dealings with NationStar Mortgage?
I am dealing with a negotiator (J. Harrell) who is being unreasonable. He has given us information about
our Seller that is not true and has closed the file because the lender is not getting what i
Read more…I'm looking for some feedback regarding the use of Equator. Although I am not a novice to working with online software, I have found this site to be less than user friendly. I particularly get frustrated with trying to open and rad email which often
Read more…I am currently working a short sale where the offered price pays the first mortgage holder (VA loan) in full, and has about 60% for each of the remaining two mortgage holders. I was told Friday we are waiting for the VA to do an appraisal and the as
Read more…An agent from emortgage did a BPO ($158,000 valuation) then an FHA appraisal ($165,000 valuation) was done on a town house we listed. It has a repaired cracked slab.
Fannie claims they did a BPO ($190,000). We are arguing that their's has to be an AVM
Has anyone ever heard of a short sale being denied due to the fact that the loan was a "No Risk" loan sold to Fannie Mae? Lender is stating that nothing can be done for first 5 years??
Lender is GTE FCU
Any help is appreciated.
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I need some advice folks.
I have clients that are trying to get into the HAFA program. They have a first and second both with BOFA, and we are moving along, at their pace of course. I have all my docs uploaded to equator and the apprasail has been
Read more…The bank approved the price to sell the home but Housten we have a problem. My client is not married, bought the home with her then boyfriend. Boyfriend was abusive so a judge granted an exparte and told him he had to quit claim deed the home. (Boyfr
Read more…Wondering if anyone has ever got a lender to agree to a flat commission? I would love to help everyone but this possible short sale would sell for around $45,000. I would like to write the commission to be no lower $4000. At 6% it would only be $2700
Read more…I'll admit, my experience is very limited in this arena - I've been a purchaser in two short-sale deals, one closed a few months ago, and the second should close soon (we'll see!?)
I have an agent's license, so I understand how the process (should) w
Read more…$490,000 Sales Price nets Chase (1st Lien Holder) $415,000 on a $611,000 note.
Chase agreed to pay $6,000 to Sun Trust (2nd Lien Holder) subject to closing by year end 2011.
After having submitted a complete package through Sun Trust's collection agent
I thought you guys may find this a bit interesting. I wanted to start "recording" my conversations with short sale negotiators for training purposes. Sound familiar? So, I got a call from a Chase negotiator and he gave me the whole commentary rega
Read more…There certainly is a big difference between Wells Fargo and Bank of America when it comes to the process in equator.
I certainly prefer the way Bank of America handles it over Wells, what does everyone else think?
Read more…I can already tell I am fighting an uphill battle with Flagstar. After speaking with loss mitigation they pretty told me they are not interested in working with me on a short sale. This seller has a true hardship and because she did not respond to a
Read more…US Bank/VA loan.
I am beginning to LOVE working with US Bank. The last few that I have done I got the same 2 negotiators and they are some of the best I have dealt with! Good communication and very helpful :)
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I know this questions is very general, but I would like to see opinions and discussions. I have been partnering with another person for several years. He's great at the negotiating, I'm great at the Real Estate side. Lately the lien holders have c
Read more…I am looking for some good resources online I can give out to clients that are wanting to read up on short sales. Does anyone have some good resources they use?
Read more…I was recently advised that BOA recently restricted all agents of a large brokerage because one short sale file allegedly contained fraudulent document(s). Furthermore, when any of these agents jumped ship to another brokerage because of their inabi
Read more…Have a FHA Short sale BOM said it could not go thru Equator this has been going on since August and Seller has provided all documents each month. Just got a negotiator last week and the will not return my calls. Please advise thanks
Read more…I am using a attorney to do this Short sale which has been going on for a year We started with Metlife and CCO. Metlife sent it to Nationstar so as of now......
I have a Short sale w Nationstar 1st/ CCO 2nd
In August prior to getting approval on the 1
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