Can HOA delinquent dues be negotiated down?
If so, by the selling agent...my agent? How does one go about this? Any successful stories to share?
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Short Sale Discussions (4366)
Can seller use Chase $20k payment incentive to cover a personal lien concurrently at closing?
Hi Superstars!
Chase offered my seller $20,000 to do a short sale, and I haven't done one in this program yet. The seller owes state income taxes that are a lien against the property. Does anyone know if the $20,000 credit to the seller at COE can be
Read more…Chase SS Help/Advice
We are first time home buyers. We found a great house that is in short sale. The listing price was $299k(I know that doesn't matter...only what the bank will accept matters.) The home has been vacant/no mortgage paid for 3 years. The seller origional
Read more…How to deter or prevent a HOA from foreclosing on a property we are trying to short sell?
Seller has received notice of the filing of a lien against the property from HOA's attorneys and their intent on foreclosing if debt is not paid promptly. This is happening in NC.
Read more…BofA does it again
So here we are after replying to a counter offer from BofA on an active short sale, and awaiting approval. Today I get an email from the negotiator saying the home was sold at auction yesterday. No notice. BofA had previosuly approved a stay of fo
Need advise on short sales in Germantown Maryland
I live in California but own a rental property in Germantown Maryland. I am thinking about putting the Maryland townhouse for short sale because I loose money on it each month and its hard to manage it remotely from California. I had purchased the ma
Read more…The First Step in a Short Sale
Before pushing your agent to slide that short sale listing into MLS, it’s a good idea to stop and think about the first step in a short sale. Sellers get overly anxious. And it’s no wonder. Many of them have been trying in vain to do a loan modificat
Read more…Does 1st lien holder (Chase) negotiate with 2nd lien (B of A)?
My cash buyer in Goleta, CA told me he thought first lien holders work with second lien holders to try and find a resolution?
Read more…Loan Modification on a FHA owner occupied home...
I have a client that wants to short sale and has a FHA loan, and the property is owner occupied. BOA is making her go through a loan modification process even though she wants to short sale. Is there any way around the modification?
Read more…2nd Lien
Hello,
I have a past client that wants to get rid of his 2nd lien and attempt to stay in his home. He can afford it paying for the first but the 2nd is what is killing him and a loan mod won't really help much if he can even get one since they say
Read more…Chase Freddie Mac 1st will only pay $6000 to Citi 2nd - Need advice
This the 2nd time in 45 days I am facing this dilemna.
The 1st will only pay $6000 on a Freddie Mac in the 1st deal. The owner had a deal lined up to bring $4000 to the 1st mortgage for an approval with a full release, and a deal with the second for
Read more…BOA HAFA
This is my first time doing a HAFA short sale. Can I put the property on the market prior to approval from BOA?
Read more…buying short sale
we are in contract on short sale in delray beach fi nation star is mtg co in contract for 7 months can't get any info any help
Read more…H.R. 1498 Prompt Decision for Qualification of Short Sale Act of 2011 ?
Good morning,
I have lost track of this bill. I know it was sent to committee in May. Did it pass? A buyer's agent mentioned it in an email to me and she said it was effective 7/1. Even if it did pass, I think it was a voluntary program. Can an
Read more…Two Names on Deed, One on Mortgage, Former girlfriend and is refusing to sign LA, any options?
My client is the only one on the note, he put his son's mother on the deed as well when he bought the home, in case something ever happened to him. Needless to say, things didn't work out, they were never married. She is now refusing to either sign a
Read more…Sent in my QWR to Nationstar...they denied the contract for the 2nd time
Short sale was denied for the 2nd time by the investors (after I submitted the QWR and all supporting docs)
Any suggestions?
Read more…Morgan Stanley - Investors wanting more than the BPO's
I have a short sale with 1 loan with Morgan Stanley Our List price is $399,000 and the offer submitted was $359,000. Our negotiator wanted $370,000 to which the buyers would not come up. So, the negotiator submitted it to investors as is and they w
Read more…Bank of America Approved HAFA Short Sale but....
Hello All -
It's me again. Here is my new issue. I have has this short sale in process with a contract on the property since 8/26/11. The bank countered and the buyer accepted all of the terms from the Bank with no issue. The seller lost power
Read more…Reasons to do a Short Sale VS. a Foreclosure
Regardless of whether you are in foreclosure, if selling your home will not net enough to pay off your existing mortgages, you may want to consider selling on a short sale. For many years, there were few reasons to sell on a short sale, apart from ea
Read more…HAFA Approval , now Seller needs to move?
Good one today!
Seller got "kinda" Hafa approval." BUT, long story, now we are waiting for Alt Rass because net did not come in, (another long story) everything submitted. Seller does qualify for HAFA, but they want to now get alternate living facili
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