Deceased Borrower, 3 mortgages!
Is this a do able short sale?
Comments, suggestions welcome!
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Short Sale Discussions (4366)
Third Federal Short Sale
I am working on a short sale with Third Federal. We have a cash offer that came in close to the appraised value yet the bank is asking my seller to sign a promissory note for the full amount of the deficiency ($60k). They stated that the sellers real
Read more…Nationstar NIGHTMARE!
Hello All,
Does anyone have a good contact at Nationstar Mortgage? I recently had a B of A short sale APPROVAL LETTER and after this is was transferred to Nationstar so we cannot close. B of A transfer letter states that the short sale and all of it
Read more…Ever Have a FHA Loan which bank says is not a FHA Loan?
FHA Short Sale, BOA is servicer. After 90 days of going around in circles, BOA tells us the loan is NOT FHA - even though the recorded Deed of Trust clearly marks each page as FHA, even though we have a FHA Case #, etc. This has even stumped the esca
Read more…3rd BoA shortsale florida... any insite
Today I found out that my realtors secretary is leaving the company. She has been the contact but she has a replacement. My huuby and I are now trying for the 3rd time to buy our 1st home and it seems every home for salw in our small town is a BoA sh
Read more…HAFA approved, good offer in from buyer, now what????
I a recieved word that my short sale was approved for the HAFA program. Told by Bank of america in a letter to list my house at $169,000. I then had a buyer submitt an offer for $180,000. It hase been almost 2 months since the offer was submitted. My
Read more…Jersey City,NJ - short sale approval - uncooperative seller
Hi,
I am the buyer in the short sale. I am not represented by an agent; I guess that was a big mistake. The seller is not represented however he is an agent by profession.
Seller applied for short sale in April and obtained approval in the first w
Read more…Need answers please help...
and are charging the buyer $2300 in attorney fees on behalf of the seller. Also tried to get me to lower their offer but get the buyer to pay the lousy $490 difference in commission….VERY SUSPECT! Don’t know what to do. How long does it usually take
Read more…Need Help with California Bank Of America Short Sale
I have a Bank of America short sale that I actually got an approval on and about 10 days away from closing one of the sellers (they are divorced) filed bankruptcy. Bank of America said we can continue on with the Short Sale as long as we give them "A
Read more…B of A Offering Sellers To Loan Mod While In Approved SS Escrow!!!
Hello Superstars, Wondering if anyone else is having this situation with BofA or any other bank. I've had this happened to a few of my agents... Sellers are approved with BofA and the 2nd lien holder, escrow set to close in a week or so, and then sel
Read more…Short sale negotiator and Atty- last minute, buyer pays from 3% contribution Part 2
This is a contunuation of my broker's post Aug 22. I represent the buyers. We are 2 days from closing and 3rd party negotiator presented the following on their company letter head trying to get paid. They never disclosed how they were getting paid d
Read more…Mortgage insurance on Short Sales
I am selling my home by short sales. Am approved for HAFA program and Offer from my buyer is $12k above what Bank of america was asking. Now i'm told that I have MI on my second mortgage on the house could that kill the short sale?
Read more…reverse mortgage
I have a shortsale to do with Wells Fargo and it's a reverse mortgage. Has anyone here done one of these yet? Any tips?
Read more…Buyer walked but new buyer submits same offer from a week ago and gets declined
I own a house in SC that just won't go away. I had a buyer (buyer #1) walk away the same day she received an approval therefore we submitted a back-up offer (buyer #2) and had to go through the entire process all over again. We came to an agreement w
Read more…Need Advice on Short Sale Situation QUICKLY - Last Minute Notification of Denied Seller Assist - Municipal Employees Credit Union NY
I represent the Buyer in a short sale in NJ, which has been going on since Feb '12. My buyer offered the list price, but requested a 6% assist. There have been some ups and downs, but we were finally notified that the bank had accepted the short sa
Read more…FHA contribution to junior liens
I've got a Seller who has an FHA insured loan and we are starting the process for acceptance into the FHA Preforeclosure Program.
I just found out that there is a judgement against the Seller for around $2k.
FHA states that they will contribute u
Read more…BankerREO...anyone heard of them?
Hello All,
I just had BankerREO contact me for REO work. Ive been doing short sale exclusively for the past 5-6 years but figured why not diversify.
If you have any feedback please let me know. If I should check with another Forum that is specifica
Read more…Office Policy Qualifications for Agents Who Do Short Sales
Wondering if any of you have a document in your office that you would be willing to share, that spells out what the minimum office requirements an agent must have in order to list and negotiate short sales.
Read more…Multiple Offers on a Short Sale Listng
Once an executed contract has been submitted to the lender and another offer is submitted on the property, how is the 2nd offer supposed to be handled? Obviously present the offer to the seller but:
Does it HAVE to be presented to the lender? Even if
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