have a short sale where ASC is the first trust. The short sale property has been rented out and the tenant wants to buy it. ASC is saying that they will not accept the offer from the tenant, as they consider it to not be an arms length transaction
Read more…I have been negotiating with Ocuwen to get a short sale approved for a client. After the initial runaround of having to send the same paperwork in over and over only to be told that FHA will not allow the short sale and that my client will be forced
Read more…Does anyone current fax number used for 3rd party authorizations? I tried to call, but they are closed and I need to get it sent in asap. Thanks!
Read more…Homeowner had to relocate out of state to find work after being fired. She meets the eiligibility guidelines for relo, but we are being told she won't get it because she already moved. I read through the Fannie servicing guide and it doesn't refere
Read more…How do you evaluate whether or not you have enough time to complete a short sale?
For example... if a Seller calls you and the sale date is within 2 weeks, 4 weeks... whatever. At what point do you decide if it is worth your time to go through the m
Read more…Are any of the Georgia agents having challenges with Citimortgage as they start the short sale process? When I called to initiate the short sale, I was told that the homeowner had to call first to start the file. OK, fine... we did this. I also sen
Read more…I'm a 3rd party negotiator and I've been working on a HAFA short sale since August, 2012, when I jumped in. File is Bank of America being handled by REDC. It's been one issue after another - the lack of communication and gross mismanagement is asto
Read more…After 3+ months all of the final minor, and I do mean minor, details had been completed per the negotiator requests and I was told by the negotiator on 5/24 that it was ready for the investor's desk and give a few days for a response / approval lett
Read more…My clients FHA short sale ATP was denied due to the appraisal coming in higher than the loan balance (173K appraisal vs. 162K balance) and we were told it does not qualify for a FHA short sale as it is not underwater. We do not agree with the apprais
Read more…I have a short sale with one mortgage with Suntrust. The principal balance of the debt is $386,000, and our offer is $370,000.
Suntrust will NOT waive the deficiency. The first approval issued was with a cash contribution of $42,000. We countered
Read more…UPDATE: Thank you for all of your responses! I am representing the seller. The buyers agreed to make the repairs before settlement to meet the FHA guidelines. We had disclosed that there was a mold-like substance noted, but not tested. The previ
Read more…My husband is active duty, we used the PCS orders hardship that came out in August 2012. Today, FM denied our short sale request based on the orders- no explanation, but the bank had warned us that our orders were 'too old' and may be denied. The o
Read more…I just closed a deal on condo a few weeks ago that a small mortgage company held. The process was so smooth. The default servicing specialist kept me in the loop during the process ,and my buyer received a check at closing from there mortgage compan
Read more…A little confused how the ATP process works , is it the same for all lenders ?
I have an FHA SHORT SALE , I have just listed the property .
Should I upload it to Equator without an offer ? , or should I use DTS ? ( Dignified Transition Solutions )
Read more…Hi All,
I am new here. I've been an investor for some time but have never used shortsale as an investment strategy.
Is this still a viable option in today's market?
What about the seasoning issue?
Any info would be appreciated.
--sheik
Read more…I'm doing a short sale for a client that has about 30k in cash. I kind of expected the lender to request a cash contribution, which they did. The bank wants $3000. The issue is that this surplus of money is going to go towards college tuition for
Read more…Has anyone had a short sale with Chase where they paid for termite treatments? I represent the buyer in this case and we found out about the termites when we did our inspection. However, this was after short sale approval. Has anyone been successful
Read more…So we were suppose to finally close this past Friday after 13 long months. 1st was with BOA and 2nd with Regions.
I was informed by my realtor that BOA had approved our offer, Regions had also come to terms as well. We moved forward, did inspections,
Read more…Hello Fellow Superstars,
My name is Doug Juenke and I am a REALTOR-Broker in California and I am also a member of the C.A.R. Distressed Property Task Force and last week I gave a presentation to about 250 fellow agents about we what are dealing with
Read more…I've represented sellers in a few short sales, but have recently been asked to list a home with a VA loan and hope you can give me some advice. Here's the situation:
Owner has a VA loan through Wells Fargo. Since buying the home they have had a red
Read more…
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