Out of Curiousity? How is everyone handling these forms? Up front as an MLS attachment? With an actual offer? When approval comes through? At closing? Based on the Lender? Some require to be Notorized? (just disregard because my company wont allow)
J
Read more…Fannie and Freddie just moved their BPO business from a vendor I was working with . Anyone know where they moved their business to? That's a HUGE contract for a company to lose....
Read more…Greetings,
Want to share some experience.
BofA seems to be taking a pro-active involvement in the Short Sale Process, have closed many with them.
We are closing a HAFA short sale file - today - that Loan Resolutions Corp handled for BofA. The onl
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Submitted offer and all docs in July, File is currently stuck in MI Dept at Chase. Trying to get to someone that can get this out of MI, the Rep at Chase said the servicer will be released and a new one assigned by Dec 1st and the new servicer does
Please help! I recently got a second turndown from Fannie Mae SS. The basics: 5 price reductions and offer for 180,000 (LP 185,000). When I disputed Counter 1, negotiator told me independent BPO came in at 180,000. Fannie Mae countered at 250,000 and
Read more…This point came up in my listing presentation this week. I don't show unrepresented buyers my short sale listing because of:
What's your take on this topic? Do you address it with your clients upfront?
Read more…I have a file with a USAA heloc. The homeowner is in foreclosure because she is way behind on her first lien, however she never stopped making payments on the USAA heloc because the payment is only $50 - The seller has agreed to sign a promissary not
Read more…I am running into more people with security clearances that need short sales. The question always arises about the impact of a short sale, DIL or foreclosure on their ability to obtain or retain a secutiry clearance.
Has anyone in the network had an
Read more…I have a client that I'm working with in which he has not missed any payments on his B of A loan. We actually had someone come to our office from B of A and one of the questions was whether the borrower had to be delinquent to successfully initiate
Read more…I am in the process of doing a short sale in tx here is the problem in TX they have a rule where the property can be sold with out a judgment, there is a sale date and i need time to arrangethe short sale .the question who do i go to halt the sale
Read more…I am a CDPE and I remember in the course they discussed that under HAFA the bank has to do certain things within a certain time frame. How enforceable is that and what is the timeframe once BPO has been done for investor review? I have lost 3 buyer
Read more…I'm a buyer thats been working on a short sale since the beginning of August. The property went up in the beginning of June, we submitted an offer but lost it to another buyer. That buyer fell through after verbal short sale price approval from the 1
Read more…New here so I'm sure this has been asked before, I subbmitted a SS package for HAFA at BOA in mid March the investor is Fannie Mae it took forever to get the appraisal done but it has been done now and I was told we were approved, but I still do not
I am doing a short sale with CM lst, and 2nd with Chase. Buyers agent sent me a request for repairs, and it was submitted to Central. Central came back with a No, and on top of that they want 31K more. I asked why are you sending me a counter, righ
Read more…I know as a FHA borrower we cannot contribute to the second but can the buyer contribute to the second? Thank you
Read more…So I put in an offer August 27th, accepted by the seller on September 2nd. Last week bank of America sent my realtor an email countering and asking escrow be closed by December 10th. I accepted the terms and they verbally approved the sale on Octobe
Read more…OK, all my Florida peeps -- Item 7 has me confused.
Back-up Offers (Check one - if no option is checked, then option (a) is deemed selected):
Choice a says that during the term of contract, seller agrees not to accept or enter into any back-up offe
Read more…I have a short sale approval being held up because apparantly Nationstar "has never had to get approval from investor Goldman Sachs/Wells Fargo, this is their first time" and is unable to make contact with the investor. Does anyone have contact info
Read more…I have been working with a client who has been working on getting a loan mod, (which they are now coming to grips on will not happen and will now short sale). They have an FHA loan that is with BofA. They have not received an NOD or NOT from BofA but
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