I have been with Program 3648 for 4 months. This has been my first experience using a processing company, and I had heard nightmares about them. So, I must admit I was a little hesitant at first. So far I am very impressed with Program 3648. They hav
Read more…I have a short sale that I just got under contract. The listing has been on the market for 3 months and we've made a couple of price reductions. The Agreement of Sale is for full price (of the current listing price). My seller obtained a very recent,
Read more…I have a short sale but my buyer just doesn't want to wait for the long process. Do you think the bank will accept it with a sales agreement instead of a contract. The loan is with Chase Bank and the short sale is only on the second loan.... What d
Read more…Has anyone run into this objection? Submitted condo file to servicer weeks ago and got a decline letter from Wells Fargo stating the FNMA is not allowing short sales to be approved when buyer has disclosed intent to resell? This seems like a silly re
Read more…ASC is the serving company for my borrowers loan we are doing a short sale on he's property. They e-mailed me and said that the mortgage insurance(Radian) wants 25k signed note from borrower. Called borrower they pulled out their doc's and stated the
Read more…Hello all,
I put an offer on a short sale in MA on Feb 9th. I am the buyer. My agent told me via the listing agent that the asking price had been pre-approved by the bank. We offered about 7% below asking. The sellers quickly signed off on the offer
Read more…I'm working with a seller who has 2 properties. One is a rental that they've owned since the 80's they rec'd a loan mod. 6 months ago, the lender wrote down the principal $100k and they still can't make the payment (the tenant has not paid in 2 month
Read more…Hi All,
Looking for RE agents to share local and national information reguarding pre forelclosure short sale seller and buyer leads as well as assit us in our Northern NJ acquisition of Short Sale Properties. 90% of short sale typically fall out be
Read more…I really have a good for you all.
My client's father passed away not leaving a will. Now the family memebrs are trying to complete a short sale on 2 properties. We don't have any information on the Banks so we don't have a clue who holds the mortg
Read more…I am the buyer and we just got verbal approval from BOA last night. Does anyone know how long will it take for the actual letter to be sent? Anyone have an estimate timeframe of what happens next?
The Listing Agent is also working with the 2nd lende
Can any one give words of wisdom about negotiating when a MI company coldly declines a short sale. We got approval from BofA with terms close date etc and then the negotiator said the MI company needs to see it. So we got investor approval and a we
Read more…I apologize for the length, but below is our story....any comments suggestions are extremely appreciated! Thanks to all for your valuable information throughout the site!!!
My Fiancé and I currently are currently under contract on a pro
After 3 hours on the phone, I found out that the property in Texas was sold in foreclosure yesterday.
Servicing agent = BOA.
Investor = Fannie Mae
I was told by BOA Short Sales that I need to call Fannie Mae about the foreclosure and why it happened.
On
This article was in Realtor Magazine online April 19,2010. Does anyone know what new government loan program taking effect Monday it is talking about? Only new program I heard about was HAFA which started April 5,2010. Here is the link and the art
Read more…Hello all!
I currently have an approval from the priamry mortgage on a short sale deal. There is a second with ETrade for 60k. I have been told by Etrade that they will take 10% ..bank agreed to 3k buyer paying 3k. So, the problem is I can't get Et
Read more…I am looking at a situation where I have been denied a loan modification and I am now wanting to do a short sale. An unrelated neighbor who is buying up some of the homes in my development wants to buy this home. He wants to lease it back to me with
Read more…I was wondering if anyone had the number to Freddie Mac Loss Mitigation department or their Borrower Outreach department. I am working on a Shortsale with Chase and I want to see if I can go above them and find out the status of my file. Something ne
Read more…Has anyone had any luck with Bof A or Chase in getting them to (in writing) agree to Not Pursue a Deficiency Judgement? I just got off the phone with B of A and they are going to have someone in their department "reach out to me" within 24 hours. T
Read more…I would like to know if the new Short Sale program( HAFA) applies only to FHA loans.
Read more…
I have a PA on a property that was listed as an REO in January. Oops! TBW didn't have the property anymore so it was withdrawn from the MLS and my client still wants the property. I still have the PA and the deposit. TBW didn't have it and I was told
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