Someone please explain the reasoning behind this:
I have a Seller who is upside down in his golf community home. This guy has a 1st mortgage with BoA and a HELOC which was used for consumer debt.
He makes a healthy income, works for the #1 place to
Read more…AT the beginning I was verbally told by the negotiator that the Seller will be getting $20K Incentive to complete the SS, now I just got a call from her saying that the MI company rejected the incentive because she couldn't find anything in the file
Read more…Dose anyone have a recent short sale approval from Round Point? We are going on month 4 with very little communication from them. It's like they really hope the buyer will just go away so they can foreclose!! It's been a long time since I've had a l
Read more…What are you telling short sale sellers when it is not likely they will close before the tax waiver ends this year?
Read more…I currently have a home listed for short sale. "Another agent" told my seller that it would be best if he tried his hardest to continue making payments until we have an offer because they won't report you late or your credit won't be as impacted once
Read more…I heard from my realtor that the appraisal was completed on 10/22/12. We have also signed a new addendum to extrend our contract till February. Our realtor really believes we should be able to close by January. My question is, after appraisal, how lo
Read more…Hello!
A seller is wanting a short sale, her lender is Chase. She is a business owner and also has a commercial line of credit with Chase for her business. She is wondering if she does the short sale on her personal residence, will that affect her bu
Read more…Does anyone have a number for an upper management person at Chase? Chase hired a realtor to do a BPO on the property and this person came in $12,000 over the appraised value without any comps to support his price.
Read more…I am in the process of a BofA first and Green Tree second short sale. Seller owes 1.3 million on the first mortgage and 270k on the second. when they took out the second they received cash back. Green Tree is requiring 50% of that cash back to clos
Read more…Has anyone had a short sale with Midland? How long did it take to get the approval? Thanks for any help/suggestions. Tracey Saizan Keller Williams Realty
Read more…Good morning Superstars.
So you have been working for 4 months to receive short sale approval only to have the buyer walk. As a short sale listing broker myself this is the most frustrating part of the short sale. All my hard work for naught. Plus i
Read more…We all know or heard of a client that has a Auction Date coming while they're in the loan mod process, one of my client is with MetLife trying to do a loan mod for the last 8 months now with the typical "please send us updated docs" phase. He has bee
Read more…Have any of you had success listing short sales and selling directly to a buyer WITHOUT marketing on MLS? Not sure that all servicers and banks have the same guidelines on this. Really need your advice! Thanks in advance.
Read more…I am in the middle of negotiating this short sale. The first is with GMAC, Fannie, and the 2nd is with USAA. The good news is that the seller was well aware going into this, that USAA was definately going to negotiate 1/2 the debt owed. USAA wants
Read more…I am currently in a contract on a short sale which the seller/owner accepted about 90 days ago. The offer was submitted to the bank (Bank of America) 75 days ago. After the full appraisal (sellers loan is a 1st lien FHA) and a few steps through BO
Read more…I don't know how many times I have seen the appraisals on my short sale listings come in too high. In March 2012 I had a short sale approved at 103k and before we received our approval letter the appraisal expired. A new appraisal was ordered. I just
Read more…Someone approached me about short selling their home. Their tenant pays the mortgage directly, and his daughter is interested in purchasing the property. Is this an arms length issue?
Read more…Hi All,
Here is my situation, I'm dealing from more than three months with a short sale, After couple counters and I did appraisal to find out the value and last week my settle ment told me 2nd lien holder gave approval and it is submitted to the pr
Read more…Has anyone be able to get any bank to pay an assessment (not back HOA's). I have a condo coming on the market that has an assessment that must be paid by close of $17,000 and the HOA's have not been paid for 7 months either -- YIKES!!!!
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