Honestly I feel numb every time Freddie or Fannie sends out a press release for new guidelines. Freddie published one in the spring this year that they would SPEED UP short sale timelines and I have YET to see that happen. Then at the end of August
Read more…Finally got short sale approval for my buyer 2 days ago after 6 months- Bank of America - they gave us 9 days to close escrow and won't extend. Luckily I have a cash buyer or we would most likely be done already. The seller says he can't get his fami
Read more…I'm on the buying side of a transaction where the listing agent is telling me that the seller is completing a HAFA Short Sale and that HAFA has determined a maximum total costs for the sale to be no more than 10% of the purchase.
This max 10% seller
Read more…One of my sellers is being "offered" Auction.com with Bank of America. Can anyone provide input with their experiences?
Here is their sales video Auction.Com Sales Presentation
Read more…So we decided to buy a new house, because the neigborhood was going bad and plus we needed a bigger house. So we rented our first house, the renters and finding new renters is getting to much for us to deal with and ready to just be done being landl
Read more…Many of us get in the habit of saying "you're exempt from the tax liability for canceled debt on your principle residence.". Do you know in a lot of cases, this is not true? Did you realize that mortgage debt, NOT used for the Purchas or Improvement
Read more…This goes for the active Real Estate Agents already on the Program HR 3648..
How much budget exactly do you need to get started? At least for the first 3 months? And has it been working??
Assuming you follow instructions..
Any feed back? Answer if you
Read more…I had a friend ask me if a listing agent can buy the short sales they are listing? I know that banks will not allow family to buy them but I was not sure how to answer their question, has anyone ever bought a client's short sale or do you know if ban
Read more…Does anyone know if Chase is still doing Cooperative Short Sales? I just got off the phone with the escalation dept as well as a manager there and neither had heard of this program. Maybe it goes by a different name that I'm not aware of.
Thanks.
Read more…True to their word I had one also they paid the Full 6% commission then gave my seller $30000.00 Plus $3000.00 hafa there was also a 2nd for 20000.00 they contributed $6000.00 my seller paid $14000.00 we all closed Escrow with Big Smiles
Read more…Hello all.
I have a short sale property that is scheduled to go to sheriff sale September 14th. The owner has discussed going deed in lieu with the lender, but has not agreed to anything in writing at this time. The lender is Nationstar.
I just rece
My buyer's put in an offer on a lot 7/15/12. The seller's lender is M & I. Is the short sale process about the same as a home? More or less time? Hardship package to qualify into a Short sale? The listing agent seems to know / offer very little info.
Read more…I have counseled many people on the benefits of a short sale (on their credit and futures) vs. a Deed in Lieu of foreclosure. There are some sources (ie: BK attys, friends, bankers, etc..) telling them that the effect on their credit will be the same
Read more…Hello All,
We have been seller approved since April on a home in So California, and are awaiting bofa approval.
We just found out that the traditional shortsale went to a COOP short sale in August.
We just got notified that it is now set up for Au
Hi all,
I've been processing conventional short sales after the borrower files bankruptcy on behalf of the BK trustee. I'm trying to determine whether or not it would be worth the time and effort to try and negotiate it or if it's almost guaranteed t
I know this has been discussed before, but kinda tired and not finding the discussions I remember!
Have seller with 20k Chase incentive, got the listing and processed the paperwork. Now also have HAFA approval (with price) Like 7 days later (wow) oh
Read more…I'm a buyer on a US Bank short sale property. First offer was rejected, getting prepared to make another one. The seller is $40,000 delinquent to the HOA. As part of the bargaining process, do banks generally prefer the buyer to assume the liabili
Read more…BOA told us to reduce the price on a Co-Op Short Sale property to get an offer on it,we did and now that we have received a full price offer, they are looking for almost 30K more. They completed another BPO when we requested a value dispute and it c
Read more…Meeting with someone tomorrow who loan is through Quicken loans. Does anyone have any useful information, contacts, forms etc for Quicken?
Thanks!
Read more…My house has been up for a short sale with BofA for almost a year, in Feb we received a contract for $200,000 and we were asking $215,000 so we take the offer . All paperwork is signed and turned in to begin the LONG process of a short sale. With a
Read more…
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