I Just like to share this email from BoA.... Please note the Changes...
As Bank of America continues to enhance the short sale process, real estate agents will notice changes when initiating a transaction in Equator, beginning March 11.
What Is
Read more…Is anyone using a title company for their negotiations? If so, how has the process been? Ant particular good/bad ones you recommend?
Thanks!
Read more…Will you represent both sides of a short sale? Why or why not?
Read more…We got an auction stopped 45 days ago. We have a condo that was part of a new development. All the recent sales in the development are between $425,000-$450,000 and only ONE was sold in the last 6 months. The development was built in 2007 with ini
Read more…I have a strange situation in that my ss clients have a first with Central Mortgage with $175,000 owed on their loan. They are foreclosing for non-payment.
The second and third are with WF for appx $180,000. The home is worth $325,000-ish, and WF i
Read more…Did Chase buy them out? Trying to contact the holder of my 2nd lien. Is it Aurora maybe? Help!
Read more…Has anyone been denied approval by the bank in a tenant occupied property where the tenant has made an offer? The bank is saying this is not an "Arms Length" transaction. The property is managed by a brokerage. Is this in violation of Fair Housing R
Read more…Hi Guys,
Here is a link to my take on the MARS Rule as it relates to our company - one that assists agents and sellers in the orchestration of short sales. It's through a more conservative lens than I usually view these sorts of things; but as I co
Read more…I truly need to know if anyone would be comfortable representing both sides of a short sale. I thought that putting a request on here might be a good way to get a response from a wide variety of people, but at this point, no one has been willing to
Read more…HOW does one find out who an MI company is on a loan?
I have a one lien property with BofA - finally got the price part worked out and then MI came back wanting a crazy amount from the sellers. First $16,500 in cash - then 5K in cash and a 12K prom
Read more…Hi everyone -have never used this site before. I am in need of a contact at SunTrust to help figure out where an REO property is in their pipeline. The house was foreclosed over a year ago and it sits empty, not listed, etc. I have called the LM,
Read more…I am a short sale buyer 5 months in......and like many other stories out there, no word yet. Someone mentioned that if it was going to be rejected, it would have been by now. Guess I am just looking for others thoughts (experience) on this. I feel
Read more…I have had to sellers that I have been going back and forth about short sales finally decide to go into bankruptcy. There is a couple of points they threw at me that I was not confident in there validity. I wanted to throw this out to the group so
Read more…Need an experienced Short Sale List Agent to refer a strong client to..I shorted their vacation home here in the desert, but now their primary residence is threatened..Thanks-
Read more…I have a short sale transaction involving US Bank as 2nd lien holder holding a note for $30,000. They have been offered $5,000 at closing. However, they are insisting that borrower agree to have the balance of loan, $25,000, transferred as a lien to
Read more…Does anyone know if a bank will do a short sale on a property that has no first mortgage, but has 2 home equity loans that are both in arrears?
Read more…In California...I am getting more and more of these.
I have one trickier than normal......the wife is a survivor on the title, but not on the Bank Loan. The husband whom is deceased is the only one on it. My Probate lawyer friend said there is rea
Read more…I joined Short Sale Superstars today to pose this question (after Pirating your wisdom for a few weeks). I have an upcoming listing Bank of America (I know--the only short sale that I wasn't successful with, and I do have their new instructions http
Read more…I have a file where US Bank is the 2nd. They are being extremely unreasonable as usual. The transaction provides $9000 at closing of the $30,000 loan amount and seller is willing to sign a prom note for the difference. Loss Mit will not even respon
Read more…I have a new sale coming up. It's a father and son who live on opposite sides of the states. The father doesn't have email, so the son agreed to collect all the paperwork and hard copy mail to Dad. Do we need TWO sets of bank statements from each
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