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
I am the buyer of an Ocwen short sale. I am one of the lucky ones who had to go through the new CFPB approval process, which took about 2.5 weeks. The offer then went to the investors and was verbally approved. We have been waiting for the actual app
Read more…Had a HAFA qualified seller sitting in Equator for a month through Nationstar. After repeated phone calls ,files being moved around and my 3rd asset manager. I just got this back from Nationstar ,who now wants to put my clients on Auction.com. Has an
Read more…Hi all,
I'm in the process of buying a short sale through nationstar (just hit the 1yr mark earlier this month). Our approval letter date was to close by 11/14. We missed it due to my title company having issues clearing the title (house went from sh
Read more…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…3 sellers involved (one is a married couple and other is a friend) and Wells Fargo says they will only put the names of the married couple on the approval letter as they say the third owner is not on the mortgage. All 3 owners documents were submitt
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…BOFA Did it again!!!! Short sale approved. Approval letter being worked on and I could not get it last Friday or this past Monday as I was told I would. Tuesday, Wednesday and even yesterday received an email stating trying to get the letter to me if
Read more…I am a buyer and have been relying on your site for some time now and it has helped tremendously. With your guidance I thought I was nearing the end and the fabled approval letter, however I received an email yesterday that has made me think we are
Read more…Hello,
have few questions on a short sale purchase. here are the flow of events:
- Contract signed : 25th Jan 12
- BPO ordered by the bank: March 12
- Some docs asked to be signed by bank: May 12
- got an letter from the sellers attorney (he is ha
Read more…When you receive an approval letter on a short sale that includes a deficiency release, can the MI company come back to the borrower for a contribution or not release them from the deficiency?
Read more…I started doing short sales in 2007. The majority of agents in the area didn't want to touch those very time consuming deals. After 5 years some agents realize that short sale are here to stay and decided to catch up and now are listing short sales.
Read more…I'm posting this both as a warning to carefully read every single line of letters your lender sends (even when you think it is a duplicate copy) and to ask if anyone else has had this happen to them, and if so how it was resolved. Here's my story:
Aft
Hi there! We got verbal approval from Chase on Jan 28th. They want it closed by March 1st and they said written approval will come in the next few days. We went ahead with the inspection, our appraisal and we have all of our loan documents ready to g
Read more…I need advise please!! BOA sent a SS Approval letter on Oct 12 to close by Oct 21. I was not required for a cash contribution or promisory note. We all close, per the approval letter terms, on Oct 21. The title co sent the wire to BOA and distributes
Read more…If you are an agent and want to learn all you can about short sales check out http://www.TheShortSaleCrush.com. It is tons cheaper than other courses out there. It explains everything and is by 2 of the short sales master who have now closed hundre
Read more…Does anyone have any suggestions or especially inspiring stories (to give me HOPE) of getting a sale postponed (2nd time, however 1st time was automatic, we did not ask for it)
Long story short, we got approval May 10th, supposed to close by May 2
Read more…I have a short sale that is supposed to close this week. The contract was written with Mom & Dad and daughter as buyers. Apparently now the daughter does not need Mom & Dad to co-sign - she is doing the loan on her own. I JUST learned this on Friday
Read more…Ok Superstars,
HAFA Program
First BOA, I'm communicating with AMS Services
Second Chase
Full Asking Price offer in Equator
Back in Jan,2011 BOA sent us a letter saying "we offer you to participate in the HAFA program" and we have a short sale agr
Read more…We are in WA state and made a $1,000,000.00 offer on a home on Feb. 22, 2011 that has a $2.4mil loan. Our agent is not very experienced with short sales and has only done 1 short sale. Seller's agent is also not that experienced so I come to all of y
Read more…
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