I am in the process of purchasing a short sale with a 2nd and 3rd mortgage. It is a large purchase and I have managed to come up with the necessary 20% down payment. When I started the process, I was informed that if the 1st lender approved my off
Read more…I'm meeting with some homeowners today who said Midland isn't that easy to work with. I guess they tried to get a lawyer to work with them and Midland wouldn't accept the written authorization. They want it on their forms. Does anyone have the Mid
Read more…I received a counteroffer from BOA in Equator. They changed a couple of the items - closing date, reduced amount for title insurance, etc. All of the prorated items are now much higher because of the delay in receiving the counter. Should I put t
Read more…Seems the person in charge of the short sale file didn't feel like doing it anymore and closed the file.That was her general attitude on the message. No other reason. The bank had already approved the sale, the buyers lender had ordered the appraisal
Read more…Finally got a WF approval. They gave us three weeks to close. The lender's ready to fund tomorrow and close on Friday. The WF closer denied the HUD1 and said the buyer's closing costs were out of line and to change and re-submit. The problem is that
Read more…We've had a short sale offer submitted through BofA that has been sent off to Freddie Mac to approve. It's taking a very long time to get the investor response. We've called Freddie Mac to get status and unable to escalate further. BofA keeps tryi
Read more…Okay, I have had many different posts on here and I know that the buyer can do nothing! This is one more shout and pray for hope though.
Happy Friday All,
Had to post this. Our processor Kristen worked tirelessly with SunTrust to get approval on a 2nd lien for an otherwise easy short sale. Not surprisingly, she got the job done and received a case of Wicked Whoopies in the mail toda
Read more…I have two separate clients who met with someone for help with their mortgages. Both have two loans on their homes. The person, who was supposedly an authority on loan modifications, etc, told them both that they could just stop paying on their secon
Read more…I was recently told by another real estate agent that the short sale lenders due to fairly recent law that they can not reduce our commissions. Is this true and what is the Florida Statue that I can recite to them stating they can not do this. Also i
Read more…Help if anyone has had this happen! Loan Resolution Corp. is servicing a First Horizon Fannie Mae Loan. We have an offer that is actually higher than appraised value (per City of Atlanta appraisal) and it's definitely FMV. LRC called us on Wednesd
Read more…BOA approved short sale in 21 days. Although Wachovia agreed to accept BOA 3K offer, we have waited for over 40 days for approval letter for 2nd release. What has been everyone else's experience with the time period on 2nd lien approval with Wach
Read more…The negotiator responded to us on July 7 and informed us that the file was approved with the MI company and is currently awaiting approval with the investor. This file had been approved back in May with a net to the bank which was $4,522 less than th
Read more…I need help badly. We've been trying to by a BAC shortsale condo in Baltimore for a year. I have a signed contract from the owner but we can't get anywhere with BAC. The weeks fly by while BAC delays. I thought we were getting somewhere when they ass
Read more…Hello
Here is my story,
short sale with 2 bank involved and 2 negotiator changed.
i placed an offer on shortsale property around November 2009, negotiator was assisgned around Feb, BPO was done some time in March. then negotitor called sellers
Read more…A new title status called "Equitable Interest" has been appearing in our MLS. My understanding of this term is that someone other than the owner has negotiated a price with the lien holder and is now selling the home (or hopes to) at a higher price
Read more…I have two potential short sales in Lawrenceville and Loganville, GA. I live in New York so working these deals are outside of my area. Looking and agent to help get the deals done. Contact me today emailbrucelee@gmail.com 646-450-5884
Read more…Hallelujah! In the past, with Fannie Mae-owned short sales I've closed, the approval letter stated that the lender "waives any deficiency". But, because of the their new Strategic Default Policy, that language has been eliminated & Fannie Mae retain
Read more…We have been buying notes from under short sales working with small or regional lenders across the country to speed up the short sale settlement process. This is a great tactic more agents should be using to get controll over deals and to get our tr
Read more…Hi Gang, Need to partner with experienced RE Agent in Vegas. I will be purchasing property and need agent with solid track record of dealing with BAC first to write up contract and manage the short sale that we can support as we determine. Loan Amoun
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