Forum

FHA/HUD approval with 12 days to close! WTH? Need HUD contact to escalate

So i just got an FHA short sale approved through the worlds greatest servicer Met Life (you should be laughing) after 4 months on churning in their system. Anyway they gave me until 9-12-2011 (see attached) to close this! When i asked my negotiator a

I am looking for an REO person with a proven system to assist me in establishing a REO business.

If you have suggestions of whom my husband and I might speak/meet with that has a great REO business, I am looking  to spend a couple or three days in the city they operate in to consider establishing an REO business.  Please have them contact me at 

Possibility of Collection for Loan Deficiency

I closed on a short sale in May with a sizeable loan deficiency the bank forgave.  The lender refused to put language in the short sale contract stating that I would personally be released for the deficiency.  The contract states the lender will send

Has anyone completed a short sale with LBPS / Seterus?

We received our approval with the following phrase:

upon completion of all requirements by borrower(s), Seterus, Inc. will execute a release and a discharge of the deed of trust/mortgage and if necessary, will dismiss any pending legal action to

Buyer agent scenario

 In the case where a buyer is paying a commission of 6% do you just reduce that from the final sales price and list the 6% on the buyers side of the HUD ? .

Can a buyers agent take a short sale listing ?

30 days to auction....would you take this listing?

Approval Time Frames???

I was just curious on what some of you guys have been experiencing in terms of approval's from start to finish?

I often find it helps when we can recognize what one may be doing to get approvals quicker than others.

NEED TO TALK TO AN AGENT DOING MORE THEN 150 SHORT SALE IN ONE YEAR.

My name is Curt Stinson in Tucson.  I'm on track to close 95 to 105 short sales this year but running into system issues. Please call me if you are on track to close more then 150 deals. I NEED HELP!!

520-954-5800

AN ATTORNEY HAS ADVICED MY SELLER TO FILE BANKRUPTCY TO KEEP HIS PROPERTY

I AM IN THE MIDDLE OF A SHORT SALE (WAITING FOR THE APPROVAL LETTER) AND MY SELLER SAID THAT AN ATTORNEY HAS ADVICE HIM TO FILE BANKRUPTCY IN ORDER TO KEEP HIS PROPERTY.

Fax Speeds and Settings and Sanity

OK,

After three years I am finally about to lose my Sh*t with the fax machine.

Every month it seems like it's harder and harder to get complete fax packages to the lenders. Sometimes it's just a few pages before their "machine" hangs up.

I've don

Shortsale Appraisal and Price

Hi there-

After disputing an appraisal and being made to raise the price $75K over value, B of A is finally ordering a new appraisal.  Now here's the question, do I drop the price back down to vaule before the appraisal?  If I leave it up where they

GMAC rejected contract

Contract on 7 year old Manufactured Home (mobile) 1700 square foot double wide on foundation on 3 acres. Sellers purchased for 159,000 9/08. Seller H lost job. Now divorced. Balance now over $180,000. Seller H has 21,000 judgement post divorce. Post

Receieved Preforclosure sales program (FHA) participation letter on 9-12 states I must close by 9-29!!!

On 9-12 I received My letter to participate from FHA on a property the letter is dated 9-12 however it states I must have an offer to bank my 9-29 . They only gave me 17 days to market the property and sale it... I contacedt the lender (flagstar) the

DIL Denied

After eight months on the market as a short sale without an acceptable offer, my client asked US Bank and VA for a deed-in-lieu.  It was just denied because of "property condition."  The property is one unit in a 12-unit condo complex.  The borrower'

Anyone have information on FHA PFS seller repurchase?

I have heard that you can complete FHA's PFS without your clients missing a payment and allow them to close on another home for a smaller payment. I have clients who are getting divorced and the husband who is keeping the home cant afford the high ho

How much are you offering 3rd position lien holders?

Just got the short sale from *^%%.  MULTIPLE liens.  City taxes, state taxes - which are priority, and then there is a citibank card lien for $15,000.  The property value is $97,000 via appraisal done.  LITERALLY the NET to Ocwen if they allow all pa

C.A.R and Fannie Mae Host Live Short Sale Webinar on Monday, August 29, 2011

Just a reminder....Join C.A.R. and Fannie Mae for a 1-hour live webinar on how to speed up the short sale process. The webinar will be moderated by CEO Joel Singer and will feature Marcel Bryar, VP of Fannie Mae, along with a special presentation of

CHASE - Has anyone requested a new negotiator?

I have a property that had about 4 showings and one offer.  The offer came in after two price reductions.

Started at $140,000 - Reduced to $129,000 and then to $119,000

The property needs a LOT of work.  Offer came in at $110,000 which was reasonab

Owner Died, willed home to Sister who in turn deeded it to her Son and

I have a buyer who wants to make an offer for a short sale on this home.  The son just signed off on the Authorization to Disclose info to me but the loan is still in the deceased owners name & they won't even talk to the present owner of record.  Ba

FYI.....HAFA.....United Guaranty....MI

Good morning Superstars. Just got off the phone with United Guaranty and had a discussion regarding HAFA. I just want to make sure everyone who is doing HAFA take some time prior to initiating and do a FULL and THOROUGH discovery.

A lot of time we wi