I am listing a property with a Loan Modification serviced by Nation Star. Has 2 loans and was told by seller they applied for loan mod and their statement with Nation Star only shows balance from the 1st loan. Ordered Pre-escrow and prelim still show
Read more…I have a client that has a legitimate hardship.
His work cut his hours to the point he cannot afford his home. He's since moved to get work out of town. In the process his wife lost her job. Now they are struggling to meet the mortgage, rent, and ev
Read more…Does anyone have an approval letter they can share where ALS state that there is a 120 day hold unless you purchase in Colorado and you can hold for only 14 days? I know this language exist, I just cant find it in my files!
Colorado in 2011 had a n
Read more…Last Short sale I closed as a listing agent was 2 years ago. I am listing a home with a purchase money loan and a second that was added when borrowers did a loan mod. B of A created a new second of $13,000 FHA, which is the total arrears of the selle
Read more…I have a military family with orders out of state. They have a VA loan through Ocwen and a second through Citi.
Right now we are having an issue of $4610.07. The second lien on the home will only accept a payoff of $8500.00. I was told that Ocwen wo
4.5 months ago my husband and I submitted an offer on a home listed as a short sale property. It was quickly accepted by the seller (on Oct 6th, 2012). About a week later on Oct 12th we got an email from the sellers agent and attorney that "the offe
Read more…I am just begining to start the process with a 1st at Guild Mortgage (which I see from some posts here that they are the processor for CalHFA loans).
Does anyone have a history of how much CalHFA will demand for a successful short sale approval so I
Read more…I have been working on a short sale that has a first with Specialized Loan Servicing. They have all documents and BPO was ordered 11/6/12. Bpo has not been turned in. They reorder on 11/16/12. I cannot get a supervisor to call me back. I just go
Read more…Hello short sale experts!
Wanting to get some opinions on the extension of the mortgage forgiveness debt relief act beyond 2013. Although we were able to avert the fiscal cliff last week, the large federal deficit calls for more budget battles ahead.
Read more…I cannot believe this is happening, but if anyone can explain what the chances are that my sellers will be allowed to get a loan modification and keep their home. I hope SPS is really telling the sellers the truth. I am so affraid they will get for
Read more…The 2nd mortgage is a Home Equity Line and balance is significantly more than the 1st mortgage. So, 1st mortgage would be paid in full with short sale proceeds (no short sale with 1st loan). Will 2nd loan Home Equity allow for a HAFA short sale with
Read more…Hi everyone!
Wondering if someone can help. I have a file that was approved and juuuuust about ready to close when the title company decided it might be a good time to pull title work (which they say they always do when I provide them the listing p
Read more…I have a mobile home listing that I took over for a friend. We have had it on the market for about a year at the price the lender set as their lowest price they would accept in a short sale. Originally, the lender, 21st Mortgage, stated that we cou
Read more…I have a client who wants me to take over a short sale that failed. She was offered $25,000 from Chase Bank. LCS is the second. LCS blocked her contribution from Chase, stating it wanted the money. Chase refuses to give the money to LCS. She tried to
Read more…I have a potential client who would like to do a short sale, but a co-signer who has never put any money into the home does not want to sign anything. Anyone have any experience removing someone involuntary from a loan?
Read more…Hi
I was wondering if there is a black and white answer to this question? Of course, the 2nd lender would like to receive their full payment from the borrower, however if the borrower were to make some amount of payment (less than the full payment)
Read more…Hello everyone,
I represent the buyers on a short sale. Litton holds the first mortgage, and has approved our offer of $310,000. Litton is willing to give the 2nd (GMAC) 10% of the $56,432 owed. The investor for the second, E*Trade Financial, is
Read more…I received a hand delivered flyer today at my home from a company offering invite to a FREE LOAN MODIFICATION seminar.
Among other claims - the flyer states:
I just listed this home. It has two outstanding mortgage on it. One with GMAC for $365,000 and the other one on EMC for $80,000.... I got an offer above asking price which is $306,000. I want to make sure that the 1st loan considers the 2nd loan, so
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