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Arm's Length Transaction-Can Owner of Short Sale lease back?

Help-

I'm getting conflicting answers----I understand that an owner of a short sale cannot buy back there property at a reduced price, etc etc--however, I am told that they can lease back from an investor.....Please help me understand the law and s

Can agents list their own short sale properties?

Hello.  This is my first post here, and I wonder if the superstars can help me. There's a question in my Activerain SFR group that I think needs some authoritative answer.  The question is, can an agent be the listing agent for a short sale property

Equator solutions - perhaps a blanket solution to many problems

I'm new to this Equator group here, but not new to Equator. I've been doing short sales since 1990.

Since i cannot reply to a comment or discussion for some reason, here is my two bits wort:

RE: "Buyer Walked" posted on 3-7-11 by Jeffrey T Lawrence

Bank of America Fannie Mae Short Sale NIGHTMARE!!

I have closed many short sales and have to tell you BOA is still horrible!!! Have a Fannie Mae short sale that I have been negotiating for 18 long months. Have had a few offers that have fallen through either from BOA taking forever or financing due

Promissory Notes

Is there any differene between a promissory note executed by a borrower at the time of a short sale versus the original promissory executed at the time of the purchase?

I ask this because many short sale clients will file bankruptcy if the lender c

Short Sale Seminars

Recently I set out to focus on conducting short sale seminars once a month.  This Saturday I held one, and not one individual came out.  I received verbal commitments, but no showings.  In January I had 5 individuals show that were buying or selling.

Will Wells Fargo extend closing on written approval letter? Unreasonable time to close shortsale

MARS. New Disclosures for Florida Realtors doing Short Sales

We will have 3 more disclosures on every Short Sale listing. One at beginning when sellers is signing listing agreement, other when the short sale is approved by lender, and the last one when Lender send additional materials in faact with the Short S

Non-Electronic Signature-friendly banks/lenders. Please Post

This thread is for those banks that we know for a fact will NOT accept Electronic or Stamped signatures on their documents.  Please post the banks/lenders below & any other quirky requirements that you have discovered.  I hope that this too can be a

Bank of America Question

I have buyer who is interested in a B of A short sale.  The listing agent about six months put the house on the market way below value at $175,000. and got three offers at 250,000.00 which is way to high.  B of A accepted $250,000.00 but that buyer b

FHA Short Sale Seller Incentive

Just received the approval letter from Wells Fargo for an FHA short sale, where they talk about the seller receving $1,000 incentive for prusuing a short sale as opposed to the foreclosure. It's refelcted on the HUD as seller credit, however, the sel

Must read for anyone who has ever worked with Bank of America on a short sale...

"Dear Patty,

At Bank of America we are continuously looking to improve our short sale process. You recently worked with us on a short sale transaction for the property located at 2880 Begonia Way, Cooper City, FL, 33026. Please take a moment to provid

Approved Wells Fargo Short Sale with limited HOA payment

Aloha,

This morning I received an approval for a short sale.  Unfortunately the letter stated "The maximum FNMA will contribute to the HOA 6% or 6k of the balalance, whichever is less."  Estimated HOA payments are $5518.65 and they took exactly 6% or

HAFA, 3 liens and the 1st getting full payout... is it possible?

Looking for feedback as this is the first of this kind I have run into.

1st & 2nd same servicer.

1st is Fannie owned.

3rd is another servicer and a HELOC

No PMI.

Based on current offer, the 1st would get full pay out, the 2nd would recoup about 5

FLAGSTAR-SELLER NOT DELINQUENT ON PAYMENTS

Has anyone successfully done a short sale with Flagstar where the seller was not delinquent on payments? My seller was told she HAS to be delinquent or they will not approve. They told her if she is not delinquent then that just shows she can afford

Muncipal Credit Union-NY

I'm in New Jersey working on a short sale for a client who has a loan from the NY Municipal Credit Union.  Has anyone had any dealings with them?  I'm having problems!!

HOA - difficult obstacle

We have bank approval.  We have 22 days to close.  Bank agreed to pay $5,000 toward delinquent HOA Dues.  (that is more then 1 years of fees - if it were to foreclose)

Anyone have a sample letter you provide to HAO Board members encouraging them to

Credit Union, as a 2nd lien holder demanding non-refundable earnest money forfeited to the CU

This is a HAFA short sale and I'm the buyer agent.

The 2nd lien holder, an AZ credit union sent a form demanding that the buyer and the buyers agent sign "agreeing" to the buyer depositing a non-refundable earnest money deposit to be forfeited to the

Anyone Ever Work With Beneficial Before

I have a short sale with Beneficial as the 3rd lien holder. I need to escalate the file to and am in need of a upper managers name, ph number and email address. 

Any help is greatly appreciated!

Thank You

Lori Mode

Bank of America HAFA Future Job Relocation

Hi all

I have a client inquiring on a HAFA short sale with B of A. They have a job offer in another state. Borrowers are current on their mortgage. This should have potential for HAFA though they are current-- job relocation information can be prov