The LM specialist at Indy, sent this message: "In order to continue with the short sale we will need any party to this transaction to contribute $16000.00 towards the short sale. This is a requirement."
I replied to e-mail, and explained no one has
Read more…I listed a property. This is a certified HAFA file . Our brokerage has over 600 agents in our office. I had a shortsale denied because one of the realtor in my office gave me an offer under his LLC. Since we have the same Broker. Bank Of America cla
Read more…I have a potential short sale coming up and I'm hoping to get a better understanding of what the potential repercussions might be for the seller. The home was originally purchased as the owners residence but he has long since moved out of state and
Read more…I have approval from Chase, the servicer on the 1st. SLS is the 2nd lien. They are requiring 15% of the balance in settlement/ 15k. First lien will not allow any more than $8500 in settlement. They won't allow any other proceeds on the HUD1 from
Read more…There is a company that is based out of Georgia, that seems to be offering a Sale Lease Back. It seems they try to get the loan moved off the property. Not a short sale, but actually expunged. Not sure how they do it or even if they are successful
Read more…Hi, I had a bit of a crazy idea that I wanted to run by some collegues.
I have a seller who has a first w/ PNC, house is approx $80K underwater. They just bought a second home and moved into it. They want to SS the first house, but are considering
Read more…This is the first time I've come up against this - anyone else?
Chase has an extension for 2010 taxes from my Seller that expired this month. They are now telling me they won't approve the short sale until he files his 2010 taxes which he can't affo
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I am taking a listing tomorrow that will need to go through Equator. I have done two short sales with BOA but not with Equator.
The seller bought the home in 2000 and refinanced in 2008 for more money. How does it work if she received cash from t
Read more…Does anyone by chance have a letter template that has been very effective when negotiating with an HOA? The Management Company says the request has to be in writng to the HOA Board.
$4600 is owed and bank says they will give $2500 and no more. I wa
Read more…Has anyone had any success with a tenant purchasing the home from the landlord in a short sale? I realize that all parties have to sign an Arms Length Transaction form but does full disclosure get us around this? If the tenant is purchasing at full
Read more…I have a very difficult time getting a hold of a PERSON, but I chose option 3 (to talk to a customer service rep) and was then forwarded to the short sale department by the rep, and was able to get very useful info from Chelsea.
Read more…Client is now considering a short sale because he rec'd letter from BOA that he might be able to receive "up to $20,000" if he short sells. The "up to" is one concern of his. Does anyone know what criteria the servicer/lender uses to determine how mu
Read more…a beautiful and caring wife/business partner.....
Read more…Would you CA Short Sale Superstars provide me with accurate information?
* Based upon your interpretation of Gov. Jerry Brown California Senate Bill 458 enacted last July. I need to determine the general applicability of anti-deficiency protections f
Read more…I have a client that has come to me and says that BOA is offering to accept about 80% of the current value, (about 50% of the existing mortgage balance debt) as acceptance to pay off the exsting mortgage. The buyer has the ability to have this fu
Read more…Wells Fargo
1 Lien.
No MI.
Current through November, but won't be paying December's payment.
Fannie is the investor.
Seller wants out regardless of the HAMP review results.
Doesn't really care about the 3K for moving costs.
We're in Washington State
Read more…Just had to share the most ridiculous moment I've maybe ever had in short sales. Last week it finally closed but not without a lot of stress. Nationstar first, Citi second. Approval letters came from both, it was approved through HAFA, both lender
Read more…I am about to negotiate an offer with my first short sale listing. I did add on an experienced short sale agent to co list with me. However, I haven't been able to reach her yet. In the offer, the 'As Is' paragraph of the contract is crossed out b
Read more…Does anyone out there have a letter they use for the condition of the home the seller is selling? I need to have something in writing that I can have my sellers sign so that they acknowledge that the house needs to be completely vacant and free of d
Read more…I have a BOA first lien that has been HAFA approved for a short sale. Because of the HAFA approval on the first, is the second lienholder obligated to approve the short sale on the second?
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