Pretty much all the agents we work with have done HAFA short sales where the lender first saw the deal when the contract was submitted by the agent and then a BPO substantiates the FMV for the contract and the sale goes through. HAFA has certain ben
Read more…We have had an offer in on a short sale since Aug. We understand that these take time. What we don't understand is that all we get is it will be a little longer. Our question to all of you is HOW LONG IS TO LONG? The latest excuse is that they have
Read more…Wow, I just got off of the phone with a "seller" who is feeling very confused and does not know where to turn.
From the beginning:
2004, preconstruction condo purchase as an investment, Husband on the note and deed, wife on neither
2008, Husband deede
Read more…When HAFA first came out, I could have sworn that I read some where that the lender is supposed to give the borrower the HAFA forms, apply, and then the lender does a BPO upfront before the home is even listed and tells you what price you can list at
Read more…Hi All,
Can anyone reccomend an escrow and title company or a specific escrow officer or title rep in Southern California who understands the unique "challenges" we face when working a HUD ie buyer funds POC to an HOA, etc.?
I'm in Simi Valley bu
Read more…I am just wondering if anyone has had experience getting the bank to pay off a judgement that has come up against a seller in a short sale? Just curious
Read more…What the heck???? This HAFA. I are waiting for final Investor approval. This is FNMAE, one loan. Sale Date moved to 10/24 and we seem to be moving along quickly..all good. Then yesterday I was told there was MI and that was the hold up. Homeown
Read more…Has anyone actually received an approval letter stating the bank reserves the right to come after the brokers and agents?
Read more…Well this is new...the buyer on my short sale listing asked for repairs from Wells Fargo and I sent it in thinking NO WAY. Well, surprise, Wells accepted the lower offer amount within 3 days. Wells has been so amazing lately, I feel like I'm dreamin
Read more…If you are considering buying a short sale? More and more homes listed for sale these days are short sales and buying one can save you 20 percent or more. However, there are some major differences about short sales that you should know before you mak
Read more…I am wondering if anyone else has experienced this situation. We got word from our negotiator 3 weeks ago that we would have a deal if the buyers came up in sales price. The buyers went for it and we got the documentation into the negotiator. We h
Read more…Has anyone been able to submit specifically to EMC a hardship package before an offer?
Still waiting for an offer and keep dropping price on this EMC shortsale. EMC told me I could not submit the hardship package without an offer, which I've foun
Read more…Hi All,
I am working with a buyer on a short sale, and after months of waiting we received a counter offer from the bank. The property is a 2-family building which the owner occupied one unit of until about a month ago. The buyer felt the counter of
Read more…I just received an offer one of my listings and the buyer's agent is the father to one of the buyers. ASC is the lien holder. Just wondering if ASC will consider this to not be an Arms Length? Typically, it is relation to the seller.. Has anyone ever
Read more…About a year ago I relocated, with my current employer, from Jacksonville FL to the NJ area and had my primary home rented(which does NOT cover mtg pymt). I'm currently renting in the NJ area but would be interested in assuming a REO property in NJ
Read more…We had an offer in for a short sale two weeks ago. The bank denied it and countered with a number they want. We submitted a new offer (still slightly less than what they wanted). They rejected that and INCREASED the amount they are asking for. Does t
Read more…Is anyone else finding Chase is a NIGHTMARE lately. I have the WORST negotiator and this is the SECOND time I got her.
BPO came in at $125,000 and a 30 day value of $110,000. This property has had back to back auctions on it since it came to me.
Read more…Hi Everyone,
I could really use some help. I have a client that has 2 judgments that need to be released so that her short sale can be completed. What is the best & fastest, as time is of the essence, way to get them to release them. One is Capita
Read more…Hello All,
Very excited to report that I have been asked to sit on a panel with representatives from Fannie, Freddie and the Dept. of Treasury in October during the American Land Title Assn. Annual Convention in Charleston. The panel is entitled "Fo
Read more…I have a home that was illegally foreclosed earlier this year (bk wasn't complete) and the loan then transferred from Ocwen to Freddie Mac/Homesteps. The home was listed with an REO agent but then tagged unmarketable and removed from the market. The
Read more…
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