Hey Superstars,
I have a question, just like the title states does a discharged bankruptcy affect a seller in receiving a incentive from the lender? I currently have a short sale in with Nationstar and I was told by the negotiator that they do not
Read more…Like a lot of you, I have been hoping that congress will move on extending this Act, so that any deficiencies on the short sale of the principal residences are simply rendered non-taxable for federal purposes.
Unlike many of you, I'd guess, I don'
Read more…I've been told by CitiMortgage that the only way the Trustee Sale Date can be postponed is that the negotiator will review the offer and send to Fannie Mae. Fannie Mae must approve the short sale offer and then they will postpone the auction date.
Read more…Hello, I am buying a home where Bofa held both leins. In the middle of the shortsale process, roughly 11/14/2012, 16 days before our first closing date, we found out that bofa sold the 2nd lien to GT. Needless to say, we went past the first closing
Read more…I have a short sale listed with an accepted offer. The bank (Nationstar) ordered a BFO which was completed and accepted and now the bank wants me to do a BFO. I have never encountered this before and it seems there is a lot of information requested
Read more…Hi,
I currently have a homeowner with an Auction Date of 01/04/2013, his property is worth at least 950K, he only owes about 400K to Wells Fargo, only 1 lien holder. He has commission coming in later in January in an amount of more than 200K, which
Read more…Just heard on Friday that Wells Fargo has approved my client's short sale on their rental property - this is my first rental property short sale. The tenant will continute renting with the new owner. My client knows that she has to come up with the
Read more…I'm fairly new to the site and might be overlooking the answer to this.
I was trying to search the forum post to see if there was a discussion about paying a Short Sale Transaction Facilitator. I'm in the Dallas/Fort Worth area. I'm thinking of l
Read more…hello Stars, A client contacted me about doing a strategic short sale. He has two loans on a rental property (EverHome (primary interest ARM - Fannie Mae loan)/CCO Mortgage (secondary with ballon in 10yrs)). Property has tenant but home is way under
Read more…I am just begining to start the process with a 1st at Guild Mortgage (which I see from some posts here that they are the processor for CalHFA loans).
Does anyone have a history of how much CalHFA will demand for a successful short sale approval so I
Read more…I have been working on a short sale that has a first with Specialized Loan Servicing. They have all documents and BPO was ordered 11/6/12. Bpo has not been turned in. They reorder on 11/16/12. I cannot get a supervisor to call me back. I just go
Read more…This is my third short sale deal but a first where the seller's agent asked for essentially three components of commissions.
First, a $2500 to be paid to some "short sale and consulting services".
Second, a flat $2495 to be paid to the realtor as "a
Read more…The buyer for a short sale was brought by his sister, a local broker.
The lender is WFB--is there any way with full disclosure that this deal can be allowed to happen?
Read more…We started our short sale in September, accepted the banks counter on November 30 and have gone through and cleared underwriting on December 18. The only thing holding up underwriting is a short sale approval letter from nationstar. I got all the inf
Read more…We closed on our short sale house this last Friday, December 28th and moved in that day. Yesterday we received a notice from the title company that the short sale lien holder (Wells Fargo, FHA loan) will not allow the extra money we have in escrow to
Read more…Approval conditions came back with "Fha will not pay buyer broker commission because buyer's broker related to buyer."
I knew this was so with seller's broker, but buyer's broker? Any thoughts on this?
Read more…I have a listing with 2 liens (Nationstar ($78K & GMAC $30K). Since I knew the offer was coming in, I called Nationstar & GMAC to give them an update. Nationstar is set foreclosure date on 1/1/2013. They have informed me that since sales price covers
Read more…Submitted SS request through Equator on a HAFA eligible property
Got denial 7 days later , said it was due to credit and that investor does not participate in HAFA ?
Client is in chapter 13 , attorney will get trustee approval , home is upside
Read more…I use Top Producer, which makes it easy to schedule tasks, like emailing updates to buyers agent. Does anybody have a general checklist they could share? Obviously, there's no one-size-fits-all, but most short sales are going to have some common comp
Read more…
**********************************
like buttons
************************