I am dealing with a short sale only on the second lien holder. The first will get pay in full, but there is not enough money to pay both. However, the seller was hoping to get relocation assistance.
Please share your experience with Ocwen if you have
Read more…I am dealing with a short sale only on the second lien holder. The first will get pay in full, but there is not enough money to pay both. However, the seller was hoping to get relocation assistance.
Please share your experience with Ocwen if you have
Read more…Has anyone had experience negotiating a Citi second mortgage when Ocwen has the first? If so, what was your experience and how did you navigate through the process?
Read more…Title company is threatening to refuse to issue title.
The first lender servicer (SPS) is refusing to put on its approval letter a payoff to the second.
They say they NEVER have done this in a non-HAFA short sale. They defend by saying they don't have
Nationstar has given me an approval verbally (via equator). They requested an updated HUD AND second bank approval. The second bank will not give an approval based on an offer that the first has not approved. I'm at a standoff. How can I escalate
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
I've been getting many inquiries from homeowners about what they can do if they lost their home to foreclosure and have a junior lienholder pursuing them with a deficiency judgment. I understand a chp 7 or 13 bankruptcy can alleviate this (although s
Read more…I have a short sale with BOA on the first, Chase (turned over to a lawyer) is on the second. The first is for $180,000 and the second is for $40,000. This is a cooperative short sale where the bank set the price. The rep for the second wants to get i
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
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…I'm curious, has anyone in Short Sale Superstars had an experience with:
Second Home & PMI...
I have a short sale in Equator and GMAC is the lender. It is a second home and has PMI. My negotiator said he has to request the seller come to the closing table with $2,000 and that the PMI company may ask for much more than
Read more…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
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
Read more…i need help to better understand this.... More and more, I'm seeing this situation (and proposed strategy) to help get the second lien holder to cooperate with the short sale by having the buyer write in an addendum that buyer will agree to contribu
Read more…
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