I am waiting for the final letter for a bank of America short sale house that has 2 loans with bank of America. I just saws there was a notice from BAC and then saw people mowing the lawn. The listing agent said there is no default notice yet. Do I s
Read more…I have an "approved" short sale with BOA (first lienholder) for my seller 2nd lienholder - I also have a negotiated approval 3rd lienholder (USAA $144,000 balance-seller current) ) USAA refuses to play ball The seller offered to pay USAA the entire b
Read more…We are in negotiations with BAC on a house that is schedule to sell this Thursday. The selling agent said he spoke with BAC last Friday (they are considering our counter offer) and they planned to postpone the trustee sale but I've checked the LPS li
Read more…My client filed BK 7 because of credit card liens. Now it is discharged. And we got a short sale approval from Chase. The creditors will not release the lien still because they said it was filed before the bankruptcy. I will appreciate your suggestio
Read more…I agree with the BPOs, most of the banks that send agents to do BPOs are unexperienced on the local area's. I have a listing that it's been sitting there and not even a fly stops to smell or look into the property, it's so over priced. I ha
Read more…Has anyone heard of DistinctPropertiesLLC.com ?
All the best,
Kieran
Read more…I'm in a short sale situation that I don't know is even possible to get approval. There is a first and second mortgage on a condo in CA that may sell for about $95,000. There are back HOA fees and penalties of over $7000. And a title search showed
Read more…I feel like I've learned a lot since joining this site and am amazed by how much good knowledge is available for free. Now I have a question of my own ... I'm working with a local lender (Colombo Bank) who has said that they don't care who buys the
Read more…My broker tells me that when first lien holders negotiate a short sale, they think they are only allowed to give the 2nd lien holder 6% of the balance owed to the 2nd lien holder. My broker says this only pertains to HAFA short sales, but first lien
Read more…Just when I thought I had seen it all doing short sale negotiations, a new "hurdle" was thrown at me today by none other than B of A: I am working on a short sale, B of A first lien, GMAC second lien. Gmac is currently owed more than $45,000, inclus
Read more…Has it made things easier or more difficult?
Read more…This is the language of our approval letter:
"Upon settlement of the short sale proceeds, the mortgage loan will be reported to the appropriate credit reporting agencies as "Settled in Full for Amount Less than Owed." To the extent that there are
Read more…I have an offer in on a listing since 5/5/11 on an FHA loan with BOA. Anyone have a contact that can help me? I have heard every excuse from BOA known to man. I contacted FHA and they sent me back to BOA! Going crazy
Read more…I had an interesting conversation with a broker and an attorney recently that has sparked my curiosity. We see marketing everyday where we as agents tout ourselves as experts or specialists, whether that is a waterfront specialist, a condo specialis
Read more…I have a seller that can clearly afford to make his payment but is so upside down, he wants to short sale it and be done with it. I have always had a hardship with my past clients, so am not sure how to compose this one. What kind of "hardship" lette
Read more…Good morning folks. I started negotiating a short sale with b of a in April this year. The negotiator wasn't so good at her job. Did not even know how to read the HUD correctly. (amongst other things) Short Sale was fully approved 5 months in (
Read more…OK. This is a first for me. I have an offer on one of my listings where the buyer's agent has written into the contract that the lender is to repair missing roof trim and any issues that may arise in the home inspection! Geesh!
Anyway, I explain
Read more…First let me state that I am not an attorney. I have run The Mediation Centers of America for the last 2 years, so I do know the loan modification industry inside and out. On average, most attorneys engaging in loan mods are merely fronts for call c
Read more…This may not be the right place to ask, but here goes.
I am under contract with a B of A short sale and have been under contract for 7 months and have had no real progress; the BPO hasn't even been ordered!! Is it possible for me to schedule anoth
Read more…So just a spin off from the great healthy debate "Are Attorney's Ruining Homeowners" I wanted to pose another topic and get opinions. The question that pops up everytime...."Will this cost me anything" or "I don't have to pay anything for this right?
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