I am trying to sell a home in AZ that I left in 2009 when I moved back to PA. When I first left the house it was on the market, but I got zero hits, so I began renting it to help cover the mortgage. Just a few months ago I received a Short Sale off
Read more…ING is 1st lienholder & only offering $1150 to Compass 2nd($28K due) on Approval letter. Compass replies w/ release of lien for $1150 , but will continue to pursue judgement on Seller. Seller is willing to foreclose with these terms of short sale app
Read more…Has anyone ever gotten a "preliminary" approval letter from PNC on a VA loan? I just received one and while it basically addresses most issues, it does not mention the deficiency and whether it will be waived. Because it is a VA loan, will it automat
Read more…So I've had an offer into Bank of America since June 1 that is netting HUD over 2% over the min net amount with buyers ready to close anytime and my negotiator just seems to keep this file on the backburner. Since BofA issuing the ATP 5/1/12, they ha
Read more…I am working on a FHA loan for Bank of America. The seller was going through a loan modification, which I find out she didn't properly complete. I was informed of this by the Account Manager, as well as her telling me because of the incomplete loan
Read more…This is my GMAC short sale (I usually love them!), but it is FNMAE as Investor and apparently, they have hired a 3rd party to negotiate for them. I have ZERO contact with GMAC..been awful. Listed in April, got one offer over-market because the Buye
Read more…Opened up a new short sale in Equator. REDC became involved. REDC then sent me a letter congratulating me on the the approval to move forward with the short sale in conjunction with a marketing agreement from Auction.com. I have had and REO listin
Read more…Good morning Superstars.
You’re invited to join many other Real Estate Professionals, and myself, at a special webinar event
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I am the buyer in a short sale and finally the HUD statement from the seller was sent today to the bank.
I know that the HUD statement includes a proximate closing date. Do I (as a buyer) have the right to know the closing date that the seller list
Read more…I have a short sale with GMAC that has been stalled for several weeks now. Does any one have any contact information to accelerate the short sale?
Read more…I recently initiated a short sale on equator, which happens to belong to BoA and this morning I got this message:
"Dear Agent, your file has been assigned to REDC to work as a FNMA COOP. We are
currently in borrower outreach process to confirm intere
As usual, we have approval on the first TD but Springleaf is stalling. States they won't do the SS but that we "should just send another letter" explaining that the seller is qualified for HAFA but will receive nothing if Springleaf does not agree to
Read more…Wanted to make sure everyone saw these. Freddie's bulletin can be found here: http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1216.pdf. And apparently Fannie's will be available for public consumption tomorrow, 8/22.
I am encouraged by what
Read more…Is anyone using a dedicated short sale website to generate leads? How effective is it? I am considering signing up for one but wanted to ask the experts on this site first.
Read more…I've been posting our SS drama (we are buyer) here for clarification from all the knowledgeable agents I've encountered here and now we have a new twist. Quick background:
June 28th - email from agent: "The 2nd (PNC) lien has accepted, it has now b
Read more…Isn't it interesting how Citi plans to avoid paying to foreclose in the future? Now they can just evict instead......
CitiMortgage%20to%20Launch%20Home%20Rental%20Program%20as%20Foreclosure%20Alternative.mht
Read more…Can anyone explain to me why PNC would require us to turn in Form 710 for an FHA loan? Isn't that just for Freddie/Fannie loans? They have closed out the file but say they will possibly re-open it if we give them this and all the other docs that I ha
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We all know Short Sales can be very frustrating. Short Sale Lenders can make decisions that make absolutely no sense to us as agents. There are many times where we are tempted to be overly creative to get a deal through. Folks....being creative is O
Does anyone know how to fight PNC on paying our fees? We have facilitated it and settlement is tomorrow yet PNC NOW says they wont pay us what they had originally agreed to on the approval letter. Anyone at the bank I can speak to? Any assistance wou
Read more…So here is my issue. We had an appraisal done on the short sale we are trying to buy. The house is selling for $180k but the appraisal only came in at $175k. We have to pay the FHA down payment of 3.5% which is $6,400.00. After we pay this amount the
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