Does anyone know how to get to a person of authority in Chase that can start a short sale without the financial package? I have a client that has had the property discharged in bankruptcy, but it has not gone through foreclosure yet. I contacted hi
Read more…Citi (Fannie Mae investor) is telling me that the agent, which is the listing agent as well as the selling agent, has to cut her commission to 3% from 6%. Is it possible that this lender is delegated and wants to issue an approval letter without sub
Read more…I have a short sale that I have been working on for about 11 months now. It is a BOA first and they have farmed it out to DTS, then LRC.
Long story short. They (DTS) declined the short sale about 50 days ago due to the BPO being expired. When I calle
Read more…I have a short sale where the second was with Litton. I know most everything was absorbed by Ocwen but Ocwen cannot find anything related to the loan or sellers ss#.
We do have a letter from 2009 produced by seller stating payment should be sent t
Read more…I have a military family with orders out of state. They have a VA loan through Ocwen and a second through Citi.
Right now we are having an issue of $4610.07. The second lien on the home will only accept a payoff of $8500.00. I was told that Ocwen wo
It appears that servicers - especially Wells Fargo , have been interpeting HUD's PFS 31 day delinquency requirement diferently. I have seen one Wells "negotiator" refuse to accept an offer for review until seller/borrower is at least 31 days delinqu
Read more…We are in the beginning stages of disputing the value of the home we are attempting to do a short sale with. I do not understand the process, or how to start, my agent doesn't seem to either, and the bank will not provide a copy of their valuation.
Read more…Seterus says the seller doesn't meet the debt to income ratio and wants seller contribution in form of monthly payments options of ~$500 mo. to ~$700. mo. Also wants buyers to pay an additional 10k sales price and their own closing costs. Foreclosure
Read more…I know everyone is having issues with FNMA's incredibly ridiculous values. Has anyone or does anyone have a contact and FNMA that may be able to put some human element into a sale I am working on? I feel like my hands are tied and I hate feeling this
Read more…I have an FHS PFS with Bank of America. The sale was approved. On my sales contract review form, it states "the sale is contingent upon closing no later than 6/6/13.If closing does not take place before this date, a new letter will be required."
T
Read more…I have a Nationstar file that is set to close today, but the buyers lived in China. Beside the SS Affidavit, some of the closing docs will also need to be notarized, is there no notary in China? Is there any way we can get around this?
Read more…This is first for me. Approval of short sale from Chase. Chase sold the note a few days before closing.
Now what? Do we start over?
Read more…I just got off the phone with CitiMortgage. I have a 3rd party authorization on file and talked with a representative just seven days ago. Now I am told that, because of a new law, they no longer talk to authorized 3rd parties operating in the stat
Read more…I have a Chase short sale pending in Florida. I have been under contract for 7 months. I have received scraps of information from the Seller's attorney who works through Equator, including a message two months ago that the file had moved to another n
Read more…What we ALL knew to be true is now in print. How many short sale clients told you this same story???
Read more…Good morning Superstars.
Today I want to talk a little bit about Credit Restoration. As many of you may know TLW and I went through a very difficult time from 2008-2010. We ended up having to do Short Sales on two of our rental properties. This teame
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Anyone have any escalation info for Nationwide Credit/Ocwen?
They hold 2nd lien...1st lien (WF) will only allow 10% of principle balance owed to 2nd...they want 30%!
Read more…What is going on with FANNIE MAE? I have 2 deals right now where I know the BPO for the servicer came in at the offer price and FANNIE MAE countered $20K more on a $220K priced home with no comparables in that range and $55K more on a $45K home. I se
Read more…Thank you for taking the time to read this quick note. I am turning to you as a last resort and i Am baffled at my experiences with boa BOA has a motion to foreclose and shorten redemption period, approved. All granted because I did not act when th
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