Closed one today.
Suntrust FHA, one mortgage
Mortgage amount $245,000
Contract price $160,000
NET to lender $145321.50
Seller got $1000 at closing
Contract date 3/19/11
Close date 7/15/11
Total days contract to close 118
Total days to get approval 80
Read more…After 9 months on the market, I finally received an offer on my house (short sale). We signed the contracts two weeks ago. I spoke with Nationstar today and they told me that PMI won't even accept short sale applications unless you are 2 months delin
Read more…I understand this is a Short Sale forum (and a very informative one at that), but my need right now is to see if anyone out there has experience with working through a loan modification - i.e. modifications get approved for trial, go thru trial perio
Read more…FTC just announced MARS no longer applies to real estate agents....more forms for the trash :)
Read more…We just received an offer on a short sale where PNC hold lthe first mortgage and there is no 2nd. I have never done a short sale with PNC. Does anyone have any advice?
Read more…Just took a WF serviced FHA SS. Who do I contact first? WF or HUD?
Thank you for any input!
Read more…The bank approved amounts of "up to".... for various line items on the HUD. When the amounts were subtracted from the accepted sales price, the payoff was about $6,000 short. I have not seen an approval letter with the wording "up to". Have you?
Read more…I represent a cash buyer/investor interested in purchasing an IndyMac short sale. Listing agent says that IndyMac will give approval only if purchaser is owner-occupant. I've never encountered such a restriction on a short sale as a listing or buye
Read more…How does investor (Fannie Mae) determine what is acceptable offer for short sale? We are trying to purchase home for $175K less then what sellers purchased it for 5 years ago. Other homes in the neighborhood have recently sold for between $20K-$50K
Read more…I am a buyer that found a house on realitor.com I did not have a realitor so i contacted the listing agent directly. we put in a offer at fair market value and got all the way to investor approval, yesterday the realitor informed me that the bank
Read more…I have a seller has a first with Colonial Savings, a second with Chase. I called Colonial Savings so I could fax over authorization, they told me up front that they will not give the 2nd lien holder more then $1k on a short sale, no exceptions. Any
Read more…Hello,
Did anyone do a SS during the Redeeption period? I have 2 SS customers who have received the sheriff notice. However, they have 6 months redeemption period in MN. We are doing the SS now..Anyone can share your experience or ideas? Thank you!
Read more…We are getting ready to close on the sale of on my personal Chase short sale in California. One loan, which was a refinance, with no cash out, second home. The approval did not mention anything about a deficiency judgement, one way or the other. I am
Read more…Help Needed. Etrade contact info or advice on a file.
Hello. Home value is $900,000 in Colorado. 1st is Etrade with BofA as servicer. Etrade will only allow $3000 to Jr. Lien holder which is Chase.
Chase refuses to accept less than $25,000. Funds
Read more…I've got a contract for a short sale on a property that is being serviced by Residential Credit. They have delayed acknowledgement and/or lost some paperwork, creating the need to refax some materials as much as 3 times. Although Residential Credit
Read more…We just got approval from both banks and the buyer backed out--after 3 months of waiting! I have put it back on the market at the approved price. Is it better to wait to tell the banks when I have a new offer or just tell them now? The seller is not
Read more…OK, agents -here's the million dollar question (I hope):
Where are some creative places to find homeowners who might be in default? It's always easy to find customers who have been served with a lis pendens/NOD, but what about the people who HAVE
Read more…Owner would like to do a short sale. Is there anyway to stop an auction from happening? Owner had been going through loan modification and was just turned down. Owner did not know that house had gone through foreclosure and is about to go to auction.
Read more…All,
Since I gained so much info from you all, I wanted to contribute my experience.
I just completed a short sale with WF (1st) and Chase (2nd). I was current on my payments until closing - no lates.
Today, WF posted to my credit report as "Le
Read more…Hi All, I'm looking for information on LBPS, what was your experience working with them? I know of an agent that was in the middle of working a short sale,and the bank sold the property at the courthouse steps as they were negotiating a Short Sale.
Read more…
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