I need a super short sale negotiator
I own a mitigation company and are always looking for top notch short sale negotiators.
Any suggestions? Please send me an email mike@propertymitigation.com
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Short Sale Discussions (4366)
Credit Union demanding full recourse on shorted second
My client has two mortgages with a local credit union. We submitted a short sale package that only shorts the second mortgage. The second will be shorted about $65,000 out of the total $85,000 balance. We showed a pretty significant hardship ... e
Read more…Wells Fargo
Closed my Wells Fargo short sale that started over a year and a half ago. I have to say this was due to having access to this wonderful forum. It's nice to have a place where we can vent and get great information. Happy Holidays everyone and a BIG
Read more…Coldwell Banker
Anyone done a Coldwell Banker short sale? If so, how did you "like" them? How was your experience?
Read more…ING Short Sale
Hi,
I am a new member. I am helping a client with a short sale but haven't dealt with ING before. This is a purchase money loan: 1st loan amountis $480K and 2nd is with HSBC for $48K. Any idea on how to get started with ING? Thanks!
Read more…Bank of New York
I just took over a file from another negotiator and am at a complete loss. the loan was originated iwth Bank of America/ Countrywide in 2007 and there is an assignment thru MERS in 12/2009 to Bank of New York. BOA now says that they are no longer the
Read more…SC Homeowner, What are the options
I got this question from a homeowner who had to find employment in North Carolina after South Carolina job disappeared. They have been renting home in SC for $400.00 less per month than mortgage, supplimenting the balance.
He is under the impressi
Read more…Chase and Judicial Foreclosure in Anti-Deficiency States
I am in CA and my client has a 1st and a 2nd purchase money loan with Chase. We are in escrow, but now sure about the 2nd which gives Chase the right to come after the deficiency. Negotiator states that it is better if she takes this because if s
Treatment of IRS 1099C on a 2nd home short sale
Just received an approval and closing date for a 2nd home short sale w/ a release of deficiency from BofA. Seller now realizes that with the IRS tax implications, they might be on the hook for a 40-50,000 tax laibility. Since home is not covered unde
Read more…FNMA erroneous counter-offer/valuation; what can be done?
I was googling my “issue” trying to find information on anyone else who may have experienced FNMA’s valuations department coming back with a short sale counter-value completely out of line with the lender’s BPO appraisals and the market value of the
Read more…Bank of America Decline for "High negative mitigation"
Please help me understand this decline - as its a new one and makes no sense.
I started a short sale several weeks back with First Franklin. Halfway through the short sale the loan gets sold to Bank of America. We start over in Equator, all is well,
Read more…I am a prime victim of the BPO gone wrong!!!!
Have a short sale listing in Los Angeles with a IndyMac Mortgage Services Loan. I actually had an approval for $300K and the buyer had to back out before closing. A new negotiator was assigned and he sent out for a new BPO. It just came back and the
Read more…NEW RULES beginning in 2011
I attended a WCR meeting on Monday and the 3 "top guys" from BofA, Chase and Wachovia/Wells were there to discuss short sales and what's coming.
They said, starting in 2011, there will be NO postponements of Trustee Sales and NO extensions of closi
Read more…Cooperative short sales
Does anyone have any experience with this program? Our client received a letter from BOA offering him the opportunity to participate in this program. Just want some feedback..
Read more…California foreclosure
Would someone explain what happens when a seller ceases to make his mortgage payments and the property taxes and insurance are separate. Should the seller continue to pay the property taxes? What is the liability on the taxes when the property goes
Read more…Franklin Credit Mgmt Corp
Has anyone done a short sale with Franklin Credit Mgmt Corp? I couldn't find them on the Lender list on the website. I have a 2nd with them trying to get short sale approval. Any info would be greatly appreciated.
Read more…Insurance Coverage for Vacant Home?
One of my listings is now vacant and under contract contingent on the Short Sale process with two lenders.
The seller received cancellation of Insurance on the property as the Insurer had determined the property is vacant and the policy is for owner o
How to get the 1st loan to pay something towards the second loan.
I just listed this home. It has two outstanding mortgage on it. One with GMAC for $365,000 and the other one on EMC for $80,000.... I got an offer above asking price which is $306,000. I want to make sure that the 1st loan considers the 2nd loan, so
Read more…Manufactured Homes and Green Tree
Help. . . I have a client who is behind on payments with Green Tree. Do the traditional rules for short sales apply or is the fact that this is a manufactured home make a difference! My client said someone came to his door today saying that he had
Read more…Investment Property Short Sale - Tax and Deficiency Consequences
Can you tell me about your experiences with short selling investment property? If you have information for California, it would be even better, but any will do. What are the tax rules, etc.?
Read more…
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