I've recently had two potential short sales in a row killed by two different bankruptcy attorneys. In both cases, the seller has been discharged and the bankruptcy case is closed. However, before signing on to do a short sale, they say they need to c
Read more…I've got a BOA/HUD short sale approval but 2 junior liens (a local bank and a mechanics lien, both have judgements) that won't accept the $1500 ($750 each) offered by HUD/BOA. The homeowner filed bankruptcy last year but the liens weren't removed b
Read more…I just got off the phone with a homeowner who told me it's too late to go the route of a short sale as he has already filed for Chapter 7 BK. Not knowing what to say, I said "Oh, okay ... I guess that's that" (or something like that) and we ended th
Read more…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…This is a new one on me. I am hoping someone has experience with this. I have a listing appointment with a couple who had a bankruptcy about 4 years ago, in which at least their first and I think their home equity mortgages were discharged. They ha
Read more…Hello, Everyone,
I just started working on a file where the sellers are in Chapter 13 bankruptcy and need to short sell. The lender is Wells Fargo and the loan is conventional. I asked the currently assigned single point of contact/processor in th
Read more…I have a short sale that is part of a bankruptcy that was settled a couple of years ago. Neither lien on the property was ever reaffirmed. I live in Washington State which is a community property state.
My first lien is being paid in full though whic
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My husband and I live in Charlotte, NC. We really want to purchase a house that is now held up in bankruptcy.
April 22: We submitted our offer on the house (a short sale)
April 28: Sellers filed for bankruptcy
May 4: Sellers signed contract/accepte
Read more…I was recently approached by a fellow agent to process a short sale for her client who is going through bankruptcy. I have heard in the past to stay away from short sales when client is going through bankruptcy. Can I still help these sellers or shou
Read more…There's a 1st (Chase) and a 2nd (Key Bank) on the property. The sellers filed Chapter 11 (reorganization). Per court order, the seller's plan was confirmed. Chase filed for relief from stay and it was granted so they chose to move forward with forecl
Read more…I'm working on a Short sale with Dyck O’Neal, Inc as the second mortgage. The home is ready to foreclose 4/30/10. I may be able to settle the first mortgage but Dyck O’Neal, Inc. is asking for $15K or no close. They will never receive a dime if it fo
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