I listed a home and sold it,escrow is open and the entire short sale package has been sent to Central Mortage. Central Mortgage sent a letter to my seller saying they will review the their documents and a processor will contact the seller to discuss
Read more…I'm working on a Chase one lien FHA short sale. I received a call from the negotiator today, expecting to be advised that the PFS form was being faxed, but was instead advised that my client was declined from the program due to the property being ren
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I am attempting to escalate a file. Our short sale expires tomorrow.
I jusst need one extra day to get this done. The negotiator says an extension will cost
a 10% increase to the net amount due.
there is not room for that. Any suggestions or lu
Read more…Does the Mortgage Forgiveness Debt Relief Act apply to investment property?
Read more…I'm working with a couple who are about $50K upside down. Loan is $152K, house value is about $103K. They are getting a divorce and need advice about how to handle the house and mortgage in the divorce papers. This is in Florida.
There is one loan
Read more…My friend is asking me if it would be advantageous to do a Deed in Lieu on her property rather than wait and go through a short sale?
Read more…We have a short sale with CitiMortgage and had submitted the paperwork back in April. Everytime we call it is a "black hole" and no one can find the paperwork and a loss mitigator isn't assigned.
Does anyone have any ideas how to cut through th
Read more…We are a buyer in a SS. Due to a 'lower than offer price' appraisal we are looking at getting different financing than we originally stated on purchase agreement (i.e. 95-100% financing vs. 90% with 10% down). If we change our financing terms and/o
Read more…I have a short sale that was suppose to close twice. Bank of America is first lien holder, PNC is second lien holder. I got the first negotiated first then the second. The first was paying the second $6,000. The second wanted an additional $5500 so t
Read more…Good morning Superstars.
If you handle Short Sales then you know the importance of the BPO. Lenders heavily rely on the opinion of a neutral agent when it comes to placing a value on the short sale property. So it's important that the agent doing th
Read more…Hey everyone,
I'm brand new to the site and just looking for a little guidance. I put an offer in on a house 6 weeks ago. I know that's not a long time for a short sale, and I'm waiting patiently (or at least trying to :)) I went directly through th
Read more…Here's my timeline... Oct 2011 made my first offer 305k plus 3% in closing March 2012 BOA countered at 315 plus the 3% closing I figured the end was near so I countered that same day at 310k and 3% closing figuring they'd take or counter back at t
Read more…I have had this listing now for 81 days. It has been looked at twice in that amount of time. Older home with good sq. ft in excellent shape but, we have new construction going up all around us.
I have asked for a price reduction, submitted comps to s
Read more…My team is representing the buyer in a short sale and the listing side is asking the buyer to pay for the HOA Document Fee & Transfer Fee. Before asking our clients to pay for these fees, we want to ask the seller to pay for it first.
The listing a
Read more…My client is being transfered, but it is only 32 miles to the new location. Has anyone ever had any luck getting a Hardship approved for that short a distance? It's not so much the distance as it is the travel time due to traffic. The commute will
Read more…Yep. Just got approval on the first (BOA) and was dealing with GMAC when suddenly the loan was sent to a different servicer. The kicker is it was sold 6/20 and FCI still doesn't have the pool of loans. I'm in LIMBO!!!!
Read more…If seller is certified into HAFA on a USDA short sale, can the HAFA $8500 2nd lien payoff be used to pay the
$8000 1st Time home buyer credit payback penalty?
Seller purchased home 4/10 & must Short sale/sell the home prior to the 36 months . 1st ti
Read more…I need some suggestions on requiring the buyers to have some "skin in the game" when purchasing my short sale listings. When a buyer agent presents a contract to my seller they are required to submit it along with my buyer agent guidelines which set
Read more…Here one for everyone ,we have a 66 arce parcal 2 miles off the grid ,and over half of the land is rock ,no power(solar only) ,and a naurtal spring is the source of water, was listed at 75,000 ,got a offer for 60,000 BOA investor counters us at 150,
Read more…I have a short sale that is part of a bankruptcy that was settled a couple of years ago. Neither lien on the property was ever reaffirmed. I live in Washington State which is a community property state.
My first lien is being paid in full though whic
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