I am looking for a referral for an attorney or specialist in predatory loans. Specifically in negotiating principal reductions after filing suit against banks. Hopefully someone has had success in dealing with a professional with a proven track recor
Read more…Anyone ever try to escalate a loan owned by a CDO to the "investor" trustee? Success or wheels spinning?
Read more…Hi folks. If you handle Short Sales then you know the importance of the BPO (Broker price opinion). Lenders heavily rely on the opinion of a neutral agent when it comes to placing a value on the short sale property. So it's important that the agent d
Read more…I have been posting here throughout my short sale process. We have approval on our first but have to get an approval asap from gmac on the second. Our file has been with gmac for 12 days but we haven't gotten anywhere with them as of yet. I know we h
Read more…Does anyone know how much Freddie will allow a Buyer to request in closing help on their shorts?
Read more…I have a BOA 1st and 2nd short sale. 2nd released deficiency completely, and the 1st will release with a $10K cash contribution from the Seller. Seller is freaking out and says they don't have $10K but the bank can see they have 2 credit cards with
Read more…I have a deal with BOA HAFA...we have been ready to fund since Monday and I have been waiting for the approval letter with a change of closing date since last Thrusday. We need to close by tomorrow because we are up againist a sale date next week. Th
Read more…Chase will not pay more than 6% to the second and Wells Home Equity will not take less than 10%. Which is a difference of $1148. I have offered to reduce commission to net Chase the same but they say investor will not pay more than 6%..to the second
Read more…Come on, tell us something we did not already know. The fact that they employed Stern to process their foreclosures was enough for me. It would be really interesting to see the amount of money that gets passed in the night under the table to keep t
Read more…Check it out. If you are in Florida you will like this a lot. I just called one of my sellers who was on the fence and told her to call BofA. They qualified her over the phone for $11,875 to do a short sale!!
The terms of the program are attached.
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Working on a short sale where Bank of New York Mellon is the investor. The servicer (Nationstar) is cutting commissions and blaming it on BofNY Mellon. I think it's their way of taking a cut for themselves, but have no way of proving it. Has anyon
Read more…Hi,
I need some mind ease!! I submitted an Offer back on July 15,2011 at that time it was "approved shortsale" which reading up on this forum (excellent by the way) I realized that doesnt exist. Anyhow I offered the previously approved amount of $1
Read more…I was reviewing our pipeline, and I realized the majority of our closings were on back up offers. So many people don't want to look at homes that have an offer pending, but I wonder if that might be the wrong way to look at things. Is anyone else f
Read more…In a short sale where there is $30,000 deficiency on a Freddie backed Chase loan. How likely are they to pursue a deficiency? Has anyone had luck having Chase/Freddie put into writing they will not pursue a deficiency. We have no money to bring to cl
Read more…You can probably tell that some of these buyer's agents are getting on my nerves today.
First, they don't understand that the lender is not a party to the contract and that the seller is the party who accepts or ratifies the contract. I have to ex
Read more…Negotiator just told me that PNC will NOT put a full release in the approval letter period...anyone had any luck getting the release from them? My seller has to come in with 15k to make it work which is not going to happen if they are still holding t
Read more…I'd like to know if California agents have already seen some short sales get rejected due to SB458. I had one approved prior to the new law with the seller paying a prom note but the buyer backed out. Now I have to start again and I'm wondering if th
Read more…From NOD, what is the average timeframe of a shortsale in L.A. county right now... does anyone have a rough idea?
All the best,
Kieran
Read more…Hi- Need a company to help with our short sales- getting bogged down with details. We are in South Florida. Please let us know of your success with them. We have had a couple Duds we have worked with. Thank you, Sunnie
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