Hi, all. This sounds elementary, but GMAC is telling me that buyers, sellers nor agents can contribute to the subordinate liens. The MHA guidelines do not address the buyers making contributions, unless I am missing something. The buyer is willing
Read more…I have a BOA 1st and 2nd short sale. 2nd released deficiency completely, and the 1st will release with a $10K cash contribution from the Seller. Seller is freaking out and says they don't have $10K but the bank can see they have 2 credit cards with
Read more…I am working on a short sale where PNC mortgage has both the 1st and the 2nd -- completely different negotiators. 1st is owned by Fannie Mae. 2nd investor is undisclosed.
We have approval from the 1st with 6% contribution to the 2nd approved. Nego
Read more…Okay, so it's established that if the buyer is going to contribute to the second to get them to release their lien, it must be on the HUD.
However, where does it need to be on the HUD? Does it matter and what are the different implications? Does it
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