I have done a number of short sales, however, recently I had a homeowner contact me who had a Notice of  TD sale put on their front door.  The homeowner told me that she had a Capital One first and no second.  Even though the clock was ticking and the bank statement number was of no help, I continued to search the internet and couldn't seem to find any contact info that wasn't already out-dated.  I finally hit the gold mine and found a contact number that led me to two more numbers before I finally got to the correct person and the correct fax number to use for the package.  As some of you know Capital One only buys TD and they operate under a different approach when it comes to negotiating in the short sale arena.   I had contacted several agents that are big short sale machines and none of them had ever had ever successfully completed a Cap One short sale. 

Their process is much like many of them,whereas they send an appraiser out to determine actual value. They will not accept an offer that is less than 93% of appraised value and if you are lucky enough to slip in a 94-95% offer, you can bet they will counter hard and high and claim to take it or leave it.  They will, however, pay the full 6% commission and rumor has it that they actual would pay 7% if you go in with that number and bring in full appraised valued offer.  

I'd be happy to answer any questions, should you find that you have a Capital One note holder on that next short sale.