I have a transaction where the buyer and seller decided after the contract date to go into a rental arrangement. It is just more convenient for the seller to stay on for a few months than rush out to find another place. The buyer is an investor and d
Read more…Sales price $75,000 Commission 5% First mortgage with US Bank paid in full Florida Bond down payment assistance paid in full Regions bank amount owed $24,000 Regions agreed to a full release for cash settlement of $6100 Happy seller, happy buyer! Hap
Read more…Has anyone here heard rumors about the new "AMP" program from Resnet being used by some of the big lenders to help facilitate their short sales? Thanks in advance.
Read more…Thanks for Broker Bryant for pointing me to this website. I hope to get some valuable information here. I'm having a problem with one of my sellers. After more than a year of marketing this listing, and after 3-1/2 months of working a good offer and
Read more…Today has been one of those days. A delayed closing, a buyer walked, and to top it off a bankruptcy notice to one of my buyers regarding the seller of a short sale she has under contract. Does anyone have experience with bankruptcy and short sales? A
Read more…Saxon, first lienholder, approved this short sale in APRIL! BofA was offered $1000 on their second. No dice after 3 months, they closed the file. We start over with a $3000 offer, which covered 10%. Unfortunately, it took so long that the fees brough
Read more…I got the second approval letter from Bank of America today… That’s right, we are on approval #2- same buyer! This Destin Florida short sale was cleared to close back in February. But why did that approval fail? And why is the game "over"? Strike 1
Read more…Is on top of things ready to move forward on the 2nd loan and the 1st negotiator, from the same bank does not return phone calls, emails and 4 weeks into after receiving BPO does email and states they have not recvd listing agreement, purchase offer
Read more…Regions is decent to work with, although they will almost always ask for a promissory note or cash contribution. Short sale pacakge attached
Read more…Are they releasing anyone from the deficiency? I have a new listing, and he is telling me that he will not accept the short sale if the banks' terms are that they reserve the right to pursue a deficiency. My sellers' loans are both purchase-money an
Read more…I have a seller that used Florida Bond money for the purchase of her home. Actually 2 sellers in the same situation. Has anyone dealt with this in Florida? If they sell the home without any profit or with a shortfall, does Florida Bond need to be pai
Read more…Looking for opinions on this email I received: Bryant, I'm English, live in China, and have NO USA contact except I own an investment home in davenport. Loan is 220k, worth maybe mid-100's. Do I walk (non-recours...remember, Im in China!) or short s
Read more…I wanted to get some ideas on what others are doing to get the word out there that they are short sale specialists. Here is what we are currently doing: * Blogging We have a short sale blog (typepad blog), a regular area real estate blog (typepad bl
Read more…Question about promissory notes..... What happens if a seller signs a promisorry note for the PMI company and the seller never makes a payment? What can the PMI company come after them for? The full amount of the original mortgage or just the promiss
Read more…Is this a real company or do they have a servicer for their loans?
Read more…You've probably heard...."Short Sales are difficult and a big waste of time" and "Rarely do they close and when they do you don't get paid". I If you believe these statements to be true then one of my goals with this seminar is to prove you wrong.
Read more…Has anyone ever gotten a BOA approval buyer specific. The original buyer walked because the process took to long. Got the same offer new buyer and BOA says start over instead of closing. Finally my question, has anyone ever just taken it to closing w
Read more…Call 1-866-888-1232 and DO NOT ENTER THE LOAN NUMBER when prompted. Just stay on the line, listen to the multiple requests for loan number. When the auto-responder says, "DO YOU REALLY WANT TO WAIT FOR A REPRESENTATIVE?" Say "YES". That way you will
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